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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, 23 October 09
INDIAN GROUP INTERESTED IN MOZAMBICAN COAL
Mining Weekly reported that, India’s leading steelmaker, the Steel Authority of India Limited (Sail), has confirmed that it is seeking to acqu ...
Friday, 23 October 09
AUSTRALIA APPROVES CHINESE TAKEOVER OF FELIX RESOURCES
* Australia give conditional approval to China's Felix deal
* Chinese owner must list the assets on Australian exchange
Reuters reported that, ...
Friday, 23 October 09
IVANHOE TARGETING 20 MILLION TONS OF COAL OUTPUT IN MONGOLIA
Bloomberg reported that, Ivanhoe Mines Ltd., developing a $4 billion copper and gold mine in Mongolia with Rio Tinto Group, is targeting long-term c ...
Friday, 23 October 09
XSTRATA PLANS $1BN AUSTRALIAN COAL PORT
Xstrata Plc, the world's biggest exporter of steam coal, plans to build a new $1 billion coal port in Australia, it said.
The proposed Balaclava ...
Friday, 23 October 09
MEXICO'S CFE SEEKS 6.24 MLN T COAL FOR 2010-12
Reuters reported that, Mexico's state-owned power monopoly plans to award a tender for 6.24 million tonnes of steam coal in December, according to ...
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- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- GMR Energy Limited - India
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Australian Coal Association
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
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