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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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Wednesday, 17 February 10
LAND OVERLAPPING UNAVOIDABLE
Land overlapping issues in the mining industry is unavoidable due to the availability of mineral, coal, and oil resources which are often located be ...
Wednesday, 17 February 10
JORONG COULD COST BANPU 5%
Banpu Plc, Asean's biggest coal miner, forecasts a 5% drop in revenue if its suspended coal mine in Indonesia is closed for one year, says presiden ...
Wednesday, 17 February 10
RUSSIA KRU JAN COAL EXPORTS DOWN 4 PCT
Kuzbassrazrezugol, Russia's second largest steam coal producer, exported 1.859 million tonnes of coal last month, down 80,000 tonnes or 4 percent f ...
Wednesday, 17 February 10
VEDANTA SET FOR PORTS ENTRY WITH VIZAG TENDER
Vedanta, along with Leighton Contractors India, quoted a revenue share of 38.1% to win the 30-year contract
Mining and metals conglomerate Vedant ...
Tuesday, 16 February 10
TRENDS DRY BULK MARKET ... TRENDS - BRS
The start of the Chinese New Year had an immediate impact on rates and for once all the dry bulk segments lost similar ground.
The BDI fell 5%, a ...
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- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
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- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- The University of Queensland
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- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
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- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
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- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
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- Kumho Petrochemical, South Korea
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- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- CNBM International Corporation - China
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- Indian Oil Corporation Limited
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- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
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- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
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- Parry Sugars Refinery, India
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- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
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- SMC Global Power, Philippines
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
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