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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, 23 January 10
COAL CAMARADERIE
Union coal minister Shriprakash Jaiswal feels Asian countries should join hands in developing minerals, particularly coal.
At the third Asian Min ...
Friday, 22 January 10
ENERGY ADVISORY COUNCIL MULLS - COAL EXPORT BAN
The National Energy Council, which advises the House of Representatives and the president on energy issues, has begun to debate a proposal to ban ex ...
Friday, 22 January 10
MERCATOR EYES MORE COAL MINES IN INDONESIA
India’s second-largest private shipping company Mercator Lines is looking at acquiring more coal mines in Indonesia as part of its strategy&nb ...
Friday, 22 January 10
BHAKTI ENERGI IN TALKS OVER COAL VENTURES IN KALIMANTAN
PT Bhakti Energi Persada, one of Indonesia’s biggest miners of brown coal, revealed on Thursday that it was in talks to form a joint venture w ...
Friday, 22 January 10
SHENHUA ENERGY 09 YIELDED 210MN TONS COMMODITY COAL
China Shenhua Energy Co., Ltd. yielded 210 million tons of commodity coal in 2009, hiking 13.2% year on year, the Chinese energy titan announced tod ...
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- Interocean Group of Companies - India
- Anglo American - United Kingdom
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- The University of Queensland
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- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
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- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
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- The State Trading Corporation of India Ltd
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- Thai Mozambique Logistica
- CNBM International Corporation - China
- Minerals Council of Australia
- Mercuria Energy - Indonesia
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- Videocon Industries ltd - India
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
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- Sarangani Energy Corporation, Philippines
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- Indogreen Group - Indonesia
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- Merrill Lynch Commodities Europe
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- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
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- Billiton Holdings Pty Ltd - Australia
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- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Parliament of New Zealand
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Planning Commission, India
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
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- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
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- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
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- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
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- Sinarmas Energy and Mining - Indonesia
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- PNOC Exploration Corporation - Philippines
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- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
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- Medco Energi Mining Internasional
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- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
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- Vedanta Resources Plc - India
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- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
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