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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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- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- The University of Queensland
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- White Energy Company Limited
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Planning Commission, India
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
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