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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, 17 August 09
COAL EXPORTS CONTINUE DESPITE SHORTAGE
Vietnam News reported that, Viet Nam is exporting more coal despite a warning from experts that the country could face a shortage of this fossil fue ...
Monday, 17 August 09
S.KOREA JULY COAL IMPORTS UP TO 8.97 MLN T
* Imports of heating coal in July up 3.7 percent on year
* LNG imports in July fall for seventh straight month
Alibaba reorted that, South Kore ...
Monday, 17 August 09
COAL INDIA PLANS A PRICE HIKE OF 11%
With the state-run CIL mining 84% of the coal produced in the country, an 11% increase will push up inflation by around 0.16%, the company said
L ...
Monday, 17 August 09
BANPU SEES INDONESIAN MINE OUTPUT UP 10 PCT IN 2010
Reuters reported that, Thailand's top coal miner, Banpu, said on Monday it expected coal output from its Indonesian mines to rise 10 percent to abo ...
Monday, 17 August 09
COAL IMPORTS SURGE IN H1
China is one of the world's leading coal producers. But even so, imports of coal have surged in the first half of the year, hitting a record in Jun ...
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- Petron Corporation, Philippines
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- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
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- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Planning Commission, India
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- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- London Commodity Brokers - England
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- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
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- Economic Council, Georgia
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
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- Baramulti Group, Indonesia
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- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
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- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
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- Eastern Coal Council - USA
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- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- MS Steel International - UAE
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- PTC India Limited - India
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
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- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Energy Link Ltd, New Zealand
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- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- The University of Queensland
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
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- Cement Manufacturers Association - India
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- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
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- Bhatia International Limited - India
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- Ceylon Electricity Board - Sri Lanka
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- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
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- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
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- Standard Chartered Bank - UAE
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