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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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Wednesday, 04 November 09
BAKRIE MAY WIN BERAU COAL BID FROM ARMADIAN
The Bakrie group is likely to be selected as buyer of PT Berau Coal, the country’s fifth-largest coal producer, two people familiar with the m ...
Wednesday, 04 November 09
BINANI HOPES TO BUY INDONESIAN COAL MINE IN 2-3 MONTHS
"We are still negotiating, but hope to conclude the deal in the next two to three months," Binani Cement Managing Director Vinod Juneja to ...
Tuesday, 03 November 09
CHINA TO BE NET COAL IMPORTER IN 2009
China is accelerating its importation of coal to cope with fallen output caused by the consolidation of small coalmines, and is likely to become a n ...
Monday, 02 November 09
RIO TINTO WARNS ON CHEAP MONGOLIAN COAL
The Age reported that, Mining giant Rio Tinto has warned that cheap coal from Mongolia as well as congestion at the Port of Newcastle in NSW could u ...
Monday, 02 November 09
ESSAR SEEKS COAL ASSETS IN SOUTH AFRICA
Paguntaka reported that, Essar Group plans to acquire coal assets in South Africa to help boost its power business in India. A senior executive of E ...
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- Iligan Light & Power Inc, Philippines
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- OPG Power Generation Pvt Ltd - India
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- Tamil Nadu electricity Board
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- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
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- Indian Energy Exchange, India
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- London Commodity Brokers - England
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- Indogreen Group - Indonesia
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- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
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- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
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- Semirara Mining Corp, Philippines
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- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
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- Sarangani Energy Corporation, Philippines
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- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
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- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
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- Thai Mozambique Logistica
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- Uttam Galva Steels Limited - India
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- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Economic Council, Georgia
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
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- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Power Finance Corporation Ltd., India
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- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
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- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
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- Kapuas Tunggal Persada - Indonesia
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- GAC Shipping (India) Pvt Ltd
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- Dalmia Cement Bharat India
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Planning Commission, India
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
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- Alfred C Toepfer International GmbH - Germany
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