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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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- Kideco Jaya Agung - Indonesia
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- Riau Bara Harum - Indonesia
- The University of Queensland
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
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- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Indika Energy - Indonesia
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- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Parliament of New Zealand
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- Indian Energy Exchange, India
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- European Bulk Services B.V. - Netherlands
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- London Commodity Brokers - England
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- ASAPP Information Group - India
- Mercator Lines Limited - India
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- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
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- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
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- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
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- CNBM International Corporation - China
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- IHS Mccloskey Coal Group - USA
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- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- White Energy Company Limited
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- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
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- Australian Coal Association
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
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- Bukit Makmur.PT - Indonesia
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- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
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- Australian Commodity Traders Exchange
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- Independent Power Producers Association of India
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- Therma Luzon, Inc, Philippines
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- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
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- Coal and Oil Company - UAE
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- PowerSource Philippines DevCo
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- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
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