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Tuesday, 20 October 09
INDIA MAY CUT STAKE IN NTPC BY DECEMBER, POWER SECRETARY SAYS
 Bloomberg reported that, India’s government may sell a 5 percent stake in NTPC Ltd., the country’s biggest power producer, as early as December to help fund spending on roads and education and rein in the fiscal deficit.
“We will do it by December or January,” Power Secretary H.S. Brahma said by telephone in New Delhi yesterday, after the Cabinet approved the plan to sell the stake in the state-owned utility. “We will take a decision on the timing of the sale in a few days.” Brahma is the top bureaucrat in the power ministry.
Prime Minister Manmohan Singh is taking advantage of an 80 percent gain in India’s benchmark stock index this year to sell stakes in state-owned companies. The government has raised about 42 billion rupees ($913 million) since April 1 by selling shares in NHPC Ltd. and Oil India Ltd. The NTPC sale may yield 88 billion rupees, according to Bloomberg calculations based on its Oct. 17 closing price that valued the New Delhi-based utility at $38 billion.
“This should help a little in narrowing India’s fiscal deficit,” Viswanathan Vasudevan, a Singapore-based fund manager at Aquarius Investment Advisors Pte., said by telephone today. “The government needs to continue with its theme of disinvestment since the deficit is quite large.”
India plans to borrow a record 4.41 trillion rupees in the year ending March 31, widening the budget deficit to a 16-year high of 6.8 percent of gross domestic product, from 6 percent in the previous year.
NTPC has climbed 18 percent in Mumbai trading this year, lagging behind the Bombay Stock Exchange’s Sensitive Index and a 90 percent surge in rival Tata Power Co. The stock fell 0.6 percent to 213.60 rupees on Oct. 17 when the market traded in a special truncated session on Diwali, the festival of lights that marks the start of the Hindu new year.
Government Equity
The government’s equity in NTPC will fall to 84.5 percent after the sale from 89.5 percent. Part of the shares will be offered to NTPC employees, Commerce and Industry Minister Anand Sharma said yesterday, without elaborating on the timing.
“It is expected that the market capitalization of NTPC would be higher and it would help the company to raise resources in the international market on competitive terms,” the government said in a statement after a meeting of the federal cabinet in New Delhi yesterday.
NTPC plans to spend 177 billion rupees to increase its generation capacity by about 10 percent in the financial year ending March 31. The utility said last month it was evaluating an offer to buy a South African coal mine and is considering a coal- mine purchase in Indonesia to help secure fuel supplies.
The government sold a 5 percent holding in NHPC to the public for 20 billion rupees in August, while state-run refiners bought 10 percent in Oil India from the state for about 22 billion rupees the following month.
India should aim to raise as much as 250 billion rupees a year from asset sales, the finance ministry said in a July 2 report. Proceeds from the sale of the government’s stake in state-owned companies go to a separate fund meant for social- sector spending, including job creation and improving health care and education.
Source:Bloomberg
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Monday, 23 August 10
COAL FOR FAST-TRACK PROGRAM ASSURED
Antara and the Jakarta globe reported that, the coal supply for the government’s 10,000 megawatt “fast- track” program was assured ...
Monday, 23 August 10
NOBLE RESOURCES AND PAN ASIA INK MAJOR COAL DEAL
Pan Asia Corporation Limited has, via Innovation West Pty Ltd, entered into a binding coal purchase & finance agreement with Noble Resources Pte ...
Monday, 23 August 10
THE FREIGHT MARKET IS EXPECTED TO BE FIRM FOR NEXT COUPLE OF WEEKS - VISTAAR SINGAPORE
COALspot.com: The BDI continued to rise this week by 11.67 pct with the other sectors also keeping the moment. The cape size index also was up by 11 ...
Friday, 20 August 10
JAKARTA TO HOST 9TH ASIA PACIFIC MINING CONFERENCE AND EXHIBITION IN OCTOBER
ASEAN Federation of Mining Association (AFMA), an association of mining groups in Southeast Asia, will hold the 9th Asia Pacific Mining Conference a ...
Friday, 20 August 10
OVERSEAS AND GENERAL SUBSIDIARY INKS US$52M JONGKANG COAL SALES CONTRACT - PROACTIVE INVESTORS
Proactive Investors reported that, overseas and General (ASX: OGL) has reported that its Indonesian majority owned subsidiary, PT OGL Indotrade, has ...
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- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Romanian Commodities Exchange
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- The University of Queensland
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
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