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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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Saturday, 06 February 10
FREIGHT WOULD CONTINUE TO BE SOFT NEXT WEEK - VISTAAR SHIPPING
COALspot.com (Singapore): The freight market continued to soften this week including the stock markets. The main reason seems to be Chinese ne ...
Saturday, 06 February 10
COAL MINISTRY SEEKS CUT IN IMPORT DUTY
The coal ministry wants the finance ministry to reduce the 5.1% import duty on thermal coal and continue with the existing zero import duty on cokin ...
Friday, 05 February 10
IN 2010, CHINA COAL OUTPUT TO REACH AROUND 3.3BLN T
It is expected that China's coal production in 2010 will reach around 3.3bln tons. It is predicted that in the first quarter of 2010, the tight coa ...
Thursday, 04 February 10
INDIA REMAINS FIRM - FEARNRESEARCH
CHARTERING - DRY BULK
Handy
The BSI has continued it´s downward movement for 2 weeks now.Nevertheless activity in the atlantic remains bu ...
Thursday, 04 February 10
INFRASTRUCTURE DEVELOPMENT & INFRASTRUCTURE ASIA 2010
ASIA-PACIFIC MINISTERIAL CONFERENCE ON PUBLIC-PRIVATE PARTNERSHIPS FOR INFRASTRUCTURE DEVELOPMENT & INFRASTRUCTURE ASIA 2010
IPFA TO JOIN INF ...
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- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
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- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- PTC India Limited - India
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
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- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
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- Singapore Mercantile Exchange
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- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
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- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
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- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Toyota Tsusho Corporation, Japan
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- Meenaskhi Energy Private Limited - India
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- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
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- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
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- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
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- Therma Luzon, Inc, Philippines
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