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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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Monday, 28 December 09
INDONESIAN MINER LINKED TO FUGITIVE FINANCIER
The Energy Ministry is unlikely to approve the transfer of ownership of coal miner PT Riau Baraharum on allegations it is indirectly owned by fugiti ...
Monday, 28 December 09
SOMALI PIRATES SAY $4 MILLION RANSOM PAID FOR COAL SHIP
A helicopter dropped a $4 million ransom payment on Sunday on to the deck of a Chinese coal ship hijacked by Somali pirates in mid-October, a pirate ...
Saturday, 26 December 09
COAL INDIA, RIO TINTO MAY HOLD TALKS SOON ON TIE-UP
State owned Coal India Limited (CIL), which is in the race for acquisition of overseas coal properties to plug the demand supply shortfall of the dr ...
Saturday, 26 December 09
COKING COAL PRICES MAY RISE BY 10 - 15% FROM APRIL 2010
The price of coking coal, one of the key raw materials for steel production, is likely to increase by 10-15% in next April, the month in which m ...
Saturday, 26 December 09
COAL INDIA SECURES TWO BLOCKS IN MOZAMBIQUE
It's official now. Mozambique has awarded two coal acreages in its Maotize region with an estimated one billion tonne reserves to Coal India Ltd bu ...
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- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- PTC India Limited - India
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
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