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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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Monday, 28 September 09
TATA POWER SCOUTS FOR COAL BLOCKS ABROAD
Business Standard reported that, private power producer Tata Power is scouting for coal mines abroad, including Australia and Mozambique, to meet de ...
Saturday, 26 September 09
THE INDIA / FAR EAST SEEMS WILL BE FIRM NEXT WEEK - VISTAAR
COALspot.com (Singapore): The dry bulk market was soft this week and the BDI dropped by almost 7 pct to 2,183 points. The cape size index dropped by ...
Saturday, 26 September 09
GSECL PLANS TO PROCURE 15 LAKH (1.5 MILLION) MT OF IMPORTED COAL
Business Standard reported that, State-run power generation company, Gujarat State Electricity Corporation Ltd (GSECL) intends to procure 15 lakh (1 ...
Saturday, 26 September 09
SAIL TO SET UP TWO SLAG-BASED CEMENT MANUFACTURING UNITS
Rediff Business reported that, Government-owned Steel Authority of India Ltd, the country's largest steel producer, is looking to set up two greenf ...
Friday, 25 September 09
INDONESIA STOCK EXCHANGE EXAMINES BUMI DEAL WITH CHINESE SOVEREIGN WEALTH FUND
The Jakarta globe reported that, The Indonesia Stock Exchange is looking into the $1.9 billion financing deal between PT Bumi Resources, the country ...
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- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
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- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
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- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
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- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- SMG Consultants - Indonesia
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- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
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- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
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- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
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- Eastern Energy - Thailand
- SMC Global Power, Philippines
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
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- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
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- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
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- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
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- Vedanta Resources Plc - India
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- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
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- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
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