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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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Tuesday, 27 April 10
S.KOREA EWP SEEKS 0.520 MILLION TONS OF SUB-BITUMINOUS COAL
COALspot.com: South Korea East West Power Company has called for term bids for supply of Sub-bituminous Coal for Dangjin Thermal Power Pla ...
Monday, 26 April 10
COAL INDIA NEARS PORT DEAL WITH VIZAG STEEL - DNA
DNA India reported that, Coal India Ltd (CIL), the country’s largest coal producer, is close to signing a deal to acquire space at Vizag Steel ...
Sunday, 25 April 10
THE WAITING AT INDIAN PORTS FOR COAL VESSELS WAS QUITE NORMAL - VISTAAR
COALspot.com: The BDI remained unchanged this week and all other sectors also the change was not much.
The cape index continued to move up and wa ...
Saturday, 24 April 10
NTPC TO BUY COAL MINES IN KAZAKHSTAN - TELEGRAPH INDIA
Telegraph India reported that, NTPC Ltd plans to acquire coal mines and operate two thermal power plants in Kazakhstan.
“We are exploring t ...
Saturday, 24 April 10
CHINA'S COAL IMPORTS DOUBLE IN MARCH
China's General Administration of Customs said that the country imported 15.22 million tons of coal last month, more than double the amount it impo ...
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- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
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- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
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- Attock Cement Pakistan Limited
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- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
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- Semirara Mining and Power Corporation, Philippines
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- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
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- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
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- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
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- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
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- Gujarat Electricity Regulatory Commission - India
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- Mjunction Services Limited - India
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- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
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- Ministry of Transport, Egypt
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- Jorong Barutama Greston.PT - Indonesia
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- Coal and Oil Company - UAE
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Global Coal Blending Company Limited - Australia
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- Trasteel International SA, Italy
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- Merrill Lynch Commodities Europe
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- Altura Mining Limited, Indonesia
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