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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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Tuesday, 07 August 12
2ND ANNUAL FLOATING TERMINALS
Press Release - After a ground breaking and successful launch in 2011, the 2nd Annual Floating Terminals conferenceis back to address innovation, co ...
Tuesday, 07 August 12
KRISHNAPATNAM PORT HAS DISCHARGED 122,247 MTS OF COAL IN JUST 24 HRS
COALspot.com - Keeping with the tradition of the new records that are set at the Olympic Games 2012, Krishnapatnam Port has also achieved in setting ...
Tuesday, 07 August 12
THE JAKARTA POST EDITORIAL: REVISITING THE MINING LAW
The Jakarta post, one of the leading English news paper in Indonesia writes in its editorial today, what the domestic and foreign investors had drea ...
Tuesday, 07 August 12
BARAMULTI SET TO LIST ON BOURSE IN Q4 - JP
The Jakarta Post reported that, coal miner PT Baramulti Sukses Sarana is preparing to make its shares available to the public in the fourth quarter ...
Tuesday, 07 August 12
REALM RESOURCES COMPLETES STUDY ON ITS KATINGAN RIA COAL PROJECT
COALspot.com - Realm Resources Ltd. has announced that it has completed the Project Study for the Katingan Ria Project in Central Kalimantan, Indone ...
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- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
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- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
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- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
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- Makarim & Taira - Indonesia
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- Intertek Mineral Services - Indonesia
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- Ministry of Transport, Egypt
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- Billiton Holdings Pty Ltd - Australia
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- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
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- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
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- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Australian Coal Association
- Siam City Cement - Thailand
- White Energy Company Limited
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
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- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
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- Toyota Tsusho Corporation, Japan
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- Lanco Infratech Ltd - India
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- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
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- McConnell Dowell - Australia
- SMC Global Power, Philippines
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- Manunggal Multi Energi - Indonesia
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- PNOC Exploration Corporation - Philippines
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
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- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
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- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
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- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
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- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
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- Georgia Ports Authority, United States
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- Medco Energi Mining Internasional
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- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
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- PowerSource Philippines DevCo
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- Ministry of Finance - Indonesia
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- Bangladesh Power Developement Board
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
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- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
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- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
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- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
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- European Bulk Services B.V. - Netherlands
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- Wood Mackenzie - Singapore
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