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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, 06 August 12
3RD ANNUAL INDONESIA POWER
Press Release - 3rd Annual Indonesia Power is Indonesia’s premier power event, where commercial opportunities and new projects are identified. ...
Monday, 06 August 12
COAL EXPORTS COULD ADD $2B TO $6B ANNUALLY TO U.S. ECONOMY - HELLENIC SHIPPING
Business groups backing Pacific Northwest coal export proposals on Thursday lauded a new report that claims increased U.S. coal exports could bring ...
Sunday, 05 August 12
SUB-BIT INDONESIA COAL SWAPS ARE WAY UP
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 1.36 percent on Friday (3 August 2012) closing W-o-W but gained& ...
Sunday, 05 August 12
INDONESIA'S ADARO TRIMS PRODUCTION FORECAST, CITES BAD ECONOMY - THE JAKARTA GLOBE
The Jakarta globe reported that, Adaro Energy, the country’s second-largest coal producer, has cut its annual production forecast to between ...
Sunday, 05 August 12
DRY BULK FREIGHT MARKET TO STAY WEAK NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com - The freight market continued to soften further in all segments.
The BDI was down by 8.68 pct closing at 852 points. The cape index ...
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- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
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- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
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- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Agrawal Coal Company - India
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- Merrill Lynch Commodities Europe
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- Oldendorff Carriers - Singapore
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- Metalloyd Limited - United Kingdom
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- Commonwealth Bank - Australia
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- Bangladesh Power Developement Board
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- The University of Queensland
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- Energy Link Ltd, New Zealand
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- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
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- White Energy Company Limited
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- Petron Corporation, Philippines
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- Parliament of New Zealand
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- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
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- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
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- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
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- Baramulti Group, Indonesia
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- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
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- Kumho Petrochemical, South Korea
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- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
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- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
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- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
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- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- GMR Energy Limited - India
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