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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, 28 October 09
MIDDLE EAST COAL EYEING INDIAN POWER PLANTS IN EXCHANGE FOR LONG TERM COAL SUPPLY
Reuters reported that UAE's Middle East Coal is in talks to buy equity stakes in India's power plants in exchange for long term coal supply.
ME ...
Wednesday, 28 October 09
INVESTMENT IN MINING SECTOR HAMPERED BY LATE REGULATIONS
The Jakarta Post reported that, Indonesia may have to wait for a potential massive inflow of new investment into the mining sector due to delays in ...
Tuesday, 27 October 09
CHINA'S SEPT. COAL IMPORTS RISE AS ECONOMY RECOVERS
Bloomberg reported that, China, the world’s largest coal user and producer, increased imports of the fuel in September to meet rising domest ...
Monday, 26 October 09
DARWIN EYES PRIVATE INVESTMENT
The Jakarta Post reported that, the new energy and ministerial resources minister, Darwin Zahedy Saleh, has set his sights on accelerating the reali ...
Sunday, 25 October 09
THE FUTURE FREIGHT MARKET IS EXPECTED TO HAVE POSITIVE DIRECTION - VISTAAR
COALspot.com (Singapore): According to Vistaar Shipping an experienced ship operator in Singapore, the BDI shot up this week (19-24 October) by abou ...
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- Romanian Commodities Exchange
- The University of Queensland
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- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
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- Thai Mozambique Logistica
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- White Energy Company Limited
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- Star Paper Mills Limited - India
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- Coalindo Energy - Indonesia
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- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
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- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
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- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Mercator Lines Limited - India
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- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Minerals Council of Australia
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- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Planning Commission, India
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- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
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- Australian Coal Association
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- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
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- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
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- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
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- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
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- Standard Chartered Bank - UAE
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- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
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- Ministry of Transport, Egypt
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- Riau Bara Harum - Indonesia
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- Medco Energi Mining Internasional
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- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
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