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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, 07 December 09
VEDANTA RESOURCES ISSUES TENDER TO IMPORT 2.25 MILLION COAL
COALspot.com (India): Vedanta Resources plc is a London stock exchange listed FTSE 100 diversified metals and mining major with revenues in excess o ...
Monday, 07 December 09
CHINA COKING COAL PRICE MAY RISE 14% ON DEFICIT, CITIGROUP SAYS
Coking coal prices in China, the world’s biggest steel producer, may rise 14 percent next year because of a supply deficit, Citigroup Inc. sai ...
Monday, 07 December 09
JSW STEEL TO SELL MOZAMBIQUE COAL MINE FOR RS 300 CRORE
JSW Steel may sell its coal mine in Mozambique to sister company JSW Energy as the mine has become commercially unviable for the steel producer, a t ...
Monday, 07 December 09
BLACK RIDGE MINING ENTERS AGREEMENT WITH INDONESIAN COAL PRODUCER
Australian-listed Black Ridge Mining has entered into an exclusive dealing and non-circumvention agreement with Indonesian coal producer PT. Inmas A ...
Sunday, 06 December 09
THE ECI / CHINA (S7) ROUTE SOFTENED AND WAS AT US$ 25,275 PER DAY - VISTAAR
COALspot.com (Singapore): "The market was bit soft in the beginning of the week, however towards mid week that market started to pick up and th ...
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- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- The University of Queensland
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- VISA Power Limited - India
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Energy Development Corp, Philippines
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