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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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Thursday, 29 July 10
GOVT TOO OPTIMISTIC ON IRON, COAL PRICE
Federal government forecasts of continued strength in iron ore and coal prices, which underpin revenue expectations for the proposed new mining tax, ...
Thursday, 29 July 10
BALTIC INDEXES ARE POSITIVE SINCE A FEW DAYS
Handy
Baltic indexes are positive since a few days which could mean that markets have bottomed out (as we correctly predicted in our report of las ...
Wednesday, 28 July 10
INDONESIA'S MERUKH SECURES US$200 MLN INVESTMENT FROM SAN MIGUEL
Trading Market Reported that, Indonesian mining company Merukh Enterprises said it has secured an investment commitment of US$200 million from the P ...
Wednesday, 28 July 10
RIZAL RISJAD MAY OWN 10% BERAU ENERGY
Rizal Risjad, son of Indonesian tycoon Ibrahim Risjad, might own 10% stakes in PT Berau Coal Energy Tbk (BRAU), parent company of Indonesia's fifth ...
Wednesday, 28 July 10
UNUSUAL RAINS TO HIT COAL EXPORTS
COALspot.com: Heavy rains in South and East Kalimantan have compelled coal exporters to delay or cancel coal exports. PT Bayan and PT. TIA hav ...
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- Ambuja Cements Ltd - India
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- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
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- SMC Global Power, Philippines
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- Minerals Council of Australia
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- Dalmia Cement Bharat India
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- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
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- Tata Chemicals Ltd - India
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- Trasteel International SA, Italy
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
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- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
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- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
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- White Energy Company Limited
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- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
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- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
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- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
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- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- The University of Queensland
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
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- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
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- Chamber of Mines of South Africa
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- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
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- Kartika Selabumi Mining - Indonesia
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- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Makarim & Taira - Indonesia
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