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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, 27 May 10
DRY BULK RATES REACH 2010 HIGHS, BUT FUTURE REMAINS UNCERTAIN
This week is proving to be a milestone for the dry bulk market, as the Baltic Dry Index has propelled itself at never before seen levels for 2010. Y ...
Wednesday, 26 May 10
ADANI GROUP EYES AFRICA FOR COAL MINING PROJECTS
India Info Line reported that, After acquiring coal mines for importing Indonesian coal to run its thermal power plants in the country, the Adani Gr ...
Wednesday, 26 May 10
DRY BULK MARKET SHOOTS UP, CLOSES IN ON POST-CRISIS ERA HIGHS
In an opposite trend than that of the previous week, the Baltic Dry Index (BDI), a benchmark for tracking costs to haul commodities at sea, shot up ...
Wednesday, 26 May 10
BUMI TO CUT UP TO USD 1 BILLION DEBT IN 12 MONTHS
Press Release : PT Bumi Resources Tbk. announced yesterday that it has revived its intent to issue non preemptive shares and added this to the agend ...
Tuesday, 25 May 10
COAL PRODUCTION MAY REACH 320 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce as much as 320 million tons of coal this year, an increase of nearly 7 perc ...
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- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- London Commodity Brokers - England
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Parliament of New Zealand
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
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