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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, 28 August 09
JSW MAY BUY AFRICAN MINE FOR US$ 350
The Economic Times Reported that, The Sajjan Jindal-owned JSW Group is in advanced talks to acquire a coal mine in Swaziland, Africa, at an estimate ...
Friday, 28 August 09
COAL INDIA ALLOWED TO IMPORT COKING COAL
The government Thursday allowed the state-owned Coal India to import coking coal and high grade ash thermal coal by acquiring coal properties abroad ...
Thursday, 27 August 09
CIL TO SPEND US$ 1 - 1.5 BN TO ACQUIRE ASSETS IN 4 COUNTRIES
Business Standard reported that, "Coal India is looking to spend $1-1.5 billion in acquiring mining assets in Australia, Indonesia, South Afric ...
Wednesday, 26 August 09
INDIA'S JSW TO DOUBLE JAIGARH PORT CAPACITY TO 20 MT
Sea Trade Asia reported that, JSW Jaigarh Port, a wholly owned subsidiary of JSW Infrastructure & Logistics, plans to double cargo handling capa ...
Wednesday, 26 August 09
JSW ENERGY NEARS COAL-SUPPLY LINKAGE DEAL IN INDONESIA
Sajjan Jindal-owned JSW Energy is close to finalising a coal-supply linkage pact in Indonesia and is also exploring options of acquiring ...
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- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Minerals Council of Australia
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
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