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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, 01 June 12
COKAL ACCEPTED ON THE CLEAN AND CLEAR LIST FOR ITS BORNEO BARA PRIMA AND BUMI BARITO MINERAL PROJECTS
- Borneo Bara Prima (BBP) Project confirmed on the Clean and Clear List 9th May 2012
- Bumi Barito Mineral (BBM) Project confirmed on the Clean and ...
Friday, 01 June 12
ADARO BUYS MAJORITY STAKE IN AFFILIATED BHAKTI ENERGI - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk entered into an option to provide a convertible loan of up to US$500 million for a period of 3 ye ...
Thursday, 31 May 12
DRY BULK MARKET UNABLE TO FIND NEW SUPPORT TO REACH HIGHER LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been unable to find new support and recover to higher levels during these past few days. As a result, the Baltic Dry Index ( ...
Wednesday, 30 May 12
ORPHEUS RAISES $2.24M TO ADVANCE INDONESIAN COAL PRODUCTION ASSETS
• $2.24 million raised from a placement to new and existing institutional and sophisticated investors from Australia and overseas
• Funds ...
Wednesday, 30 May 12
ARPENI SECURES TRANSSHIPMENT CONTRACT FROM BARUNA DIRGA
Insider Stories reported that, shipping operator PT Arpeni Pratama Ocean Line Tbk (APOL) has secured a 1-year coal transhipment contract of 4 millio ...
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- SMC Global Power, Philippines
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- New Zealand Coal & Carbon
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- The University of Queensland
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
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