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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, 15 July 10
NO IMPROVEMENT IN THE DRY BULK MARKET - INTERMODAL
Broker’s insight
With the Baltic Dry Index today (13/7/2010) standing at 1,790 points - the lowest point since early May 2009 - ...
Thursday, 15 July 10
IRON ORE PRICING MECHANISMS PUT ON THE SPOT
THE new iron ore pricing mechanisms that killed off the annual benchmark system are coming under pressure. The spot price of the steel feed has fall ...
Thursday, 15 July 10
NTPC TO PURSUE COAL MINE ACQUISITION IN AUSTRALIA, INDONESIA - BUSINESS STANDARD
Business-Standard reported that, NTPC, the India’s largest power producer, has set the ball rolling to acquire coal mines or form joint ventur ...
Wednesday, 14 July 10
SUCCESSFUL COMMISSIONING OF GTLE LOW RANK COAL UPGRADING PLANT
COALspot.com: GTL Energy Ltd (GTL Energy) announced that construction and commissioning of its proprietary ‘first-of-a-kind’, low rank c ...
Tuesday, 13 July 10
BUMI TO PRODUCE MORE THAN 67 MILLION TONS OF COAL IN 2010
COALspot.com: Bumi resources, Indonesia’s largest coal producer has previewed its operating results in KPC/Arutmin for Jan – Jun 2010. A ...
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- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Minerals Council of Australia
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- The University of Queensland
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
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