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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, 07 October 09
WORLD'S LEADING COAL-BASED PP PROJECT TO BEGIN TRIAL PRODUCTION NEXT YEAR IN NW CHINA
Xinhua Net reported that, a coal-based polypropylene (PP) production project in northwest China, believed to be the world's largest one, is to ...
Wednesday, 07 October 09
INDIA SAIL TO IMPORT 10-11 MLN T COAL IN FY10 - EXEC
Reuters reported that, Steel Authority of India Ltd plans to import 10-11 million tonnes of coal in the current year to March, below last year's 13 ...
Wednesday, 07 October 09
DOMESTIC SHIPPING FIRMS READY FOR NEW RULES ON COAL, INDUSTRY GROUP SAYS
The Jakarta Globe reported that, The domestic coal-shipping sector is ready for the introduction of shipping regulations requiring all power station ...
Wednesday, 07 October 09
CHINESE BANK MAY PULL OUT OF SUMATRA COAL RAILWAY
The Jakarta Globe reported that, The Export-Import Bank of China may pull out of a $1.28 billion South Sumatra coal-railway project with state-owned ...
Wednesday, 07 October 09
COAL INDIA LOOKS AT LONG-TERM PRICE CONTRACTS
Economic Times reported that, Coal India is looking at long-term price contracts, of at least three-four year periods, with foreign entities, 54 of ...
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- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
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- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
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- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
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- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Parliament of New Zealand
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- Directorate Of Revenue Intelligence - India
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- Interocean Group of Companies - India
- Sojitz Corporation - Japan
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- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
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- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
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- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
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- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
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- SMC Global Power, Philippines
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- White Energy Company Limited
- Energy Link Ltd, New Zealand
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- New Zealand Coal & Carbon
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- MS Steel International - UAE
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- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
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- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
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- Mercuria Energy - Indonesia
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- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
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- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
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- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
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- CNBM International Corporation - China
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- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
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- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- PowerSource Philippines DevCo
- Planning Commission, India
- Siam City Cement - Thailand
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- Sindya Power Generating Company Private Ltd
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- Uttam Galva Steels Limited - India
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- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
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- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
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- Alfred C Toepfer International GmbH - Germany
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- SN Aboitiz Power Inc, Philippines
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- Australian Coal Association
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