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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, 24 June 10
DRY BULK MARKET AT LOWEST POINT IN EIGHT MONTHS
The dry bulk market’s demise has failed to turn around so far this week, with the industry’s benchmark, the Baltic Dry Index (BDI), yest ...
Wednesday, 23 June 10
WILHELMSEN SHIPS SERVICE OPENS NEW OFFICE IN KRISHNAPATNAM PORT INDIA
Wilhelmsen Ships Service has opened a branch office in Krishnapatnam port on the east coast of India according to statement released by company ...
Wednesday, 23 June 10
PTC'S INDONESIAN COAL-MINING FORAY-I: TO INVEST USD 69 MILLION VIA OVERSEAS SPV
Moving ahead with its plans to acquire coal assets abroad, the power trading major, PTC India Limited, has decided to invest a total of USD 69 milli ...
Tuesday, 22 June 10
INDIA HAS REPORTED MORE COAL IMPORTS FROM COLOMBIA
A second consecutive week of sharp corrections for the dry bulk market, although some of the softness could be attributed to Chinese holidays at the ...
Monday, 21 June 10
THE SUPRAMAX INDEX IN THE FAR-EAST (S6 ROUTE) WAS DOWN BY $ 1300 PER DAY - VISTAAR
COALspot.com: The market continued to soften in all sectors last week also with the BDI dropping by 18.07 pct and Cape index by 26.71 pct.
The BD ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
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