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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, 26 November 09
CIL EYES OVERSEAS ACQUISITIONS TO BRIDGE SUPPLY GAP
Coal Minister Sriprakash Jaiswal on Wednesday said that state-run coal major Coal India is looking to acquire coal blocks in the US and
othe ...
Wednesday, 25 November 09
NAPOCOR SCRAPS AWARD OF 715,000 TONS COAL
Top Philippine electricity producer National Power Corp. (Napocor) said on Wednesday it had cancelled plans to award 715,000 tons in coal supply con ...
Wednesday, 25 November 09
RISING FREIGHT RATES HIT COAL IMPORTERS
While state-owned NTPC’s 12.5 million tonne coal import order may have been aimed at plugging the shortage of coal at its thermal power plants ...
Wednesday, 25 November 09
CSN TO BUY RIVERSDALE STAKE TO BOOST COAL SUPPLIES
Cia. Siderurgica Nacional SA plans to buy 16.3 percent of Australian coal-exploration company Riversdale Mining Ltd. for about A$190.5 million ($175 ...
Tuesday, 24 November 09
ICRA DOWNGRADES TNPL`S RATING TO LAA
Credit rating agency, ICRA has revised the long term rating for the Rs 11.25 billion long-term fund-based bank facilities and Rs 1.5 billion non-con ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Planning Commission, India
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Mercator Lines Limited - India
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
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