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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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Friday, 02 July 10
PROPOSED MINERAL RESOURCE RENT TAX - PRESS RELEASE (2)
Press Release: BHP Billiton, Rio Tinto and Xstrata said today that they are encouraged by the Federal Government’s announcement that it propos ...
Friday, 02 July 10
MINERALS RESOURCE TAXATION IN AUSTRALIA - PRESS RELEASE
Press Release : Rio Tinto acknowledges the Australian Government’s announcement that the Resource Super Profits Tax (RSPT) proposal will be re ...
Thursday, 01 July 10
TATA POWER TO RAISE US$300 MILLION THROUGH ITS COAL SPVS TO FUND ADDITIONAL ACQUISITIONS AND / OR REDUCE OUTSTANDING DEBT
Stock Markets Review reported that, Tata Power, India’s largest private power player has signed an agreement to raise US$300 million in Bhira ...
Thursday, 01 July 10
HELLENIC SHIPPING NEWS POLL: THE BDI WILL STAY ABOVE 3,000 POINTS IN THE SECOND HALF OF 2010
When Hellenic Shipping News Worldwide prepared June’s poll asking readers about where do they think that the Baltic Dry Index (BDI) will range ...
Thursday, 01 July 10
PANAMAX MARKETS CONTINUE TO DROP IN ALL BASINS - FEARNLEYS
Handy
Atlantic rates continue to slide with little activity. Supras open in USG get low 30´s to Med and mid 40´s to FEast. Hmax/Supra ...
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- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Economic Council, Georgia
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
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