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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, 14 January 10
INDONESIA POWER REDUCES COAL SUPPLY
PT Indonesia Power will reduce coal supplies from PT Tambang Batu Bara Bukit Asam to its Suralaya Power Plant. "The coal supply for the plant s ...
Thursday, 14 January 10
INDIANS RESUME S. AFRICA COAL BUYING AGAINST INDEX - REUTERS
Indian trade buyers have resumed buying of South African prompt coal cargoes after a two-month hiatus but are opting for index-linked pricing, hopin ...
Wednesday, 13 January 10
STEAMING COAL SUPPLY SPOT CONTRACT FOR TAEAN POWER PLANT
COALspot.com (South Korea): Korea Western Power Co., Ltd is looking for total 1.12 million tons of Bituminous Coal for TAEAN Power Plant.
Accord ...
Wednesday, 13 January 10
INDONESIA ISSUES COAL, METAL DECREE
Indonesia has issued a ministerial decree which requires metal and coal miners to set aside a certain amount of their production for domestic needs, ...
Wednesday, 13 January 10
RESTING TIME FOR INDONESIAN COAL LOADING VESSELS
COALspot.com (Indonesia): 11 - 15 vessels are waiting in anchorages of Muara Berau and Tanjung Pemancingan to load total about 700,000 – ...
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- Port Waratah Coal Services - Australia
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- Parliament of New Zealand
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- Energy Link Ltd, New Zealand
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- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
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- Power Finance Corporation Ltd., India
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- Mjunction Services Limited - India
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- Directorate Of Revenue Intelligence - India
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- Eastern Energy - Thailand
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- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
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- SMC Global Power, Philippines
- Indian Oil Corporation Limited
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- London Commodity Brokers - England
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- Georgia Ports Authority, United States
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- Samtan Co., Ltd - South Korea
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- New Zealand Coal & Carbon
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- Ministry of Finance - Indonesia
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- Malabar Cements Ltd - India
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- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
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- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
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- Larsen & Toubro Limited - India
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- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
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- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
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- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
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- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
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- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
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- Jindal Steel & Power Ltd - India
- The University of Queensland
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- Semirara Mining Corp, Philippines
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- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
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- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
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- Pendopo Energi Batubara - Indonesia
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