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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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Thursday, 24 September 09
S.KOREA HYUNDAI STEEL TO BUY COAL FROM SIBERIA
Reuters reported that, South Korea's Hyundai Steel said on Wednesday it will buy a maximum of 300,000 tonnes of coal per year from Siberian Anthrac ...
Thursday, 24 September 09
NO IMPORTED COAL-BASED UMPPS: TATA POWER
Will wait until policy environment becomes more favourable.
Business Standard reported that, Tata Power Company (TPC), India’s largest priv ...
Thursday, 24 September 09
BUMI RAISES $1.9 BILLION SELLING DEBT TO CHINA'S CIC
Bloomberg reported that, PT Bumi Resources, Indonesia’s biggest coal producer, said it raised $1.9 billion selling debt to China’s sover ...
Thursday, 24 September 09
MACQUARIE DOWNGRADES U.S. COAL SECTOR TO NEUTRAL
Reuters reported that, Macquarie Research downgraded the U.S. coal sector to "neutral" from "overweight" as it believes that dem ...
Thursday, 24 September 09
CHINA WILL BE IMPORTER OF COKING COAL NEXT YEAR, MCCLOSKEY SAYS
Bloomberg reported that, China, the world’s largest coal user and producer, will remain an importer of the fuel through next year, according t ...
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- Star Paper Mills Limited - India
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- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
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- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Economic Council, Georgia
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- Gujarat Mineral Development Corp Ltd - India
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- Energy Development Corp, Philippines
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- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
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- Tata Chemicals Ltd - India
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- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Indian Oil Corporation Limited
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- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
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- Directorate Of Revenue Intelligence - India
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- Semirara Mining and Power Corporation, Philippines
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- Independent Power Producers Association of India
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- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Parliament of New Zealand
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- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- White Energy Company Limited
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- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
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- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
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- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
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