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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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Tuesday, 20 October 09
RECAPITAL SET TO BUY INDONESIA'S BERAU COAL - SOURCES
* COULD PAY AT LEAST $1.3 BLN FOR BERAU - SOURCES
* RECAPITAL CONFIRMS IT HAS BID FOR BERAU
* BAKRIE GROUP LIKELY TO BACK BID – SOURCES
...
Tuesday, 20 October 09
COAL PRICES TO SURGE IN 2010 DESPITE AMPLE SUPPLY
Commodity Online reported that, Coal prices are indeed destined to go higher as they follow the rise of ‘coal currencies’ such as Austra ...
Monday, 19 October 09
COAL PRICE UP AGAIN - RICHARDS BAY TERMINAL
Export prices rose 45 cents, or 0.7%, to an average of 64.05 a metric ton in the week ended Oct. 16, according to McCloskey Group.
The week was & ...
Monday, 19 October 09
COAL MINISTRY SEEKS EXPLANATION FROM AP GENCO
The Hindu Business reported that, the Coal Ministry has asked the Power Generation Corporation of Andhra Pradesh (AP Genco) to explain why there was ...
Monday, 19 October 09
CEMENT UNLIKELY TO COST MORE DESPITE COAL PRICE HIKE
Business-Standard reported that, Cement manufacturers will not immediately hike prices of the construction material, despite a surge in their input ...
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- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- The University of Queensland
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
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