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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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Friday, 27 November 09
BHP SEEKS VARIABLE COKING COAL PRICE IN JAPAN, NIKKEI SAYS
Bloomberg reproted that, BHP Billiton Ltd. has asked Japanese steelmakers to move to pricing of coking coal linked to spot rates rather than negotia ...
Friday, 27 November 09
EXXARO SEES HIGH COAL DEMAND RAISING PRICES
Reuters reported that, South African diversified miner Exxaro Resources said on Thursday it expected coal prices to rise to between $70 and $75 per ...
Friday, 27 November 09
CENTENNIAL SAYS ENERGY-COAL PRICE TO RISE AS CHINA SEEKS FUEL
Bloomberg reported that, Centennial Coal Co., an Australian producer of the fuel, said contract prices are expected to rise in 2010, with Chinese co ...
Friday, 27 November 09
IN FIRST-10-MONTH OF 2009 COAL IMPORTS IN GUANGXI-FANGCHENG EXCEEDED FULL-2008 IMPORTS
According to Customs statistics, during the January-October, Fangcheng port accumulatively imported 3.676mln tons valuing U.S.$370, rising by 53.8% ...
Thursday, 26 November 09
CHINA'S COAL IMPORTS TO RISE BY 170 PERCENT IN 2009
According to the statistics released by China's General Administration of Customs on November 23, China's coal imports for October totaled 11.1 mi ...
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- Globalindo Alam Lestari - Indonesia
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- CNBM International Corporation - China
- Planning Commission, India
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- Australian Commodity Traders Exchange
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- Parliament of New Zealand
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- India Bulls Power Limited - India
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- Trasteel International SA, Italy
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- New Zealand Coal & Carbon
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- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
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- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
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- Economic Council, Georgia
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- Lanco Infratech Ltd - India
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- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Singapore Mercantile Exchange
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- Goldman Sachs - Singapore
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
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- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
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- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Electricity Authority, New Zealand
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- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
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- Romanian Commodities Exchange
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- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- PTC India Limited - India
- Indian Oil Corporation Limited
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- Eastern Coal Council - USA
- Mjunction Services Limited - India
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- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
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- Wilmar Investment Holdings
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- Electricity Generating Authority of Thailand
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- Australian Coal Association
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
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- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
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- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
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- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
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