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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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Sunday, 20 June 10
OUR COAL: ITS DEVELOPMENT AND CONTROVERSIAL ISSUES
Indonesia’s production of coal has been growing amazingly. In the mid 1980s, national coal production was less than 1 million tons per annum, ...
Saturday, 19 June 10
STRONG DEMAND, RISING PRODUCTION SETTING SCENE FOR COAL BONANZA - THE JAKARTA GLOBE
The Jakarta globe rerported that, As the nation’s coal miners enjoy burgeoning demand from energy-hungry economies such as China and India, th ...
Saturday, 19 June 10
DRY BULK MARKET DOWN ON CHINESE SLOWDOWN FEARS
Dry bulk freight rates have been on a freefall for more than two weeks now, something which has caused the industry’s benchmark, the Baltic Dr ...
Saturday, 19 June 10
COAL INDIA KEEN ON BLOCK DEVELOPMENT IN INDONESIA - THE HINDU BUSINESS LINE
Expanding horizon
Agreement by the Indonesian Government is likely to help CIL gain foothold in India's largest sourcing point of thermal coal.
...
Friday, 18 June 10
THE PANAMAX MARKET CONTINUED ITS SOFTENING TREND - FEARNBULK
Handy
Flat Atlantic markets with most markets in ´slow mode´ due to holidays in China.
Supramax vessels open in the USG are achievi ...
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- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
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- The State Trading Corporation of India Ltd
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- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
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- Sinarmas Energy and Mining - Indonesia
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- Singapore Mercantile Exchange
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- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
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- Ind-Barath Power Infra Limited - India
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- Electricity Authority, New Zealand
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- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
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- Commonwealth Bank - Australia
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- Wilmar Investment Holdings
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- IHS Mccloskey Coal Group - USA
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- Romanian Commodities Exchange
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- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Mintek Dendrill Indonesia
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- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
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- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
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- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
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- Indogreen Group - Indonesia
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- McConnell Dowell - Australia
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
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- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
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- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
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- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
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- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
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- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
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- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
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- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
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- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
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- Coal and Oil Company - UAE
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- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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