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Wednesday, 20 January 10
NTPC PLANS TO SET UP ARM FOR ACQUIRING COAL ASSETS ABROAD
 NTPC, the world’s second-largest independent power producer (IPP), plans to set up a new entity for acquiring coal assets abroad to secure fuel supplies for its coal-based plants. A proposal in this regard is likely to be moved before the company’s board soon.
The subsidiary would look at various options of securing coal supplies from overseas markets for meeting fuel needs of NTPC’s plants, a government official involved in the process said. Control over overseas fuel resources has become important in the wake of rising dependence on imported coal by NTPC.
When contacted, NTPC chairman and managing director RS Sharma said the company had built-in systems that has ensured long-term fuel security for all its existing and upcoming projects. “We would examine setting up of a separate entity for acquiring coal assets at an appropriate time,” Mr Sharma added.
NTPC, currently, has a separate division that looks at mining of coal and another strategic division that looks at acquiring coal assets abroad. This division itself could be carved into a focused arm for overseas acquisitions.
NTPC’s coal imports stood at eight million tonne in 2008-09. It is expected to reach the 12.5-million tonne mark in the current fiscal (2009-10) and rise further as the company’s coal-based generation capacity will go on stream in the coming years. It is estimated that the company may require at least 270 million tonne of coal annually by 2017, by when its total generation capacity is targeted to touch 75,000 mw from the current level of 30,644 mw. Of the
NTPC-owned capacity, 86% is coal-based, operated through 15 coal-based power stations. The need for a separate arm for acquisition of overseas coal operations has also been felt due to the poor track record of International Coal Ventures (ICVL). ICVL is a special purpose vehicle formed by PSUs to acquire coal properties abroad. NTPC is one of the equity partners in this venture.
The proposal for a separate entity for acquisition of coal assets comes at a time when NTPC is in the midst of launching its follow-on public offer. The FPO, which opens on February 3, would sell 5% of government equity in the company. The issue has received wide interest from global investors who have committed to participate in the market offer.
“The NTPC offer has received excellent response from overseas investors. We have met several of them in the US and London and all seem to be convinced about the ability of NTPC to push through power revolution in the country,” Mr Sharma said.
NTPC is growing strength to strength targeting to reach 75,000 mw capacity through an investment of Rs 2.25 lakh crore by 2017, recording a compounded annual growth rate (CAGR) of 13% per annum. The company plans to add 6,000 mw of new generation capacity every year.
Source: Economic Times
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Thursday, 14 January 10
INDIANS RESUME S. AFRICA COAL BUYING AGAINST INDEX - REUTERS
Indian trade buyers have resumed buying of South African prompt coal cargoes after a two-month hiatus but are opting for index-linked pricing, hopin ...
Wednesday, 13 January 10
STEAMING COAL SUPPLY SPOT CONTRACT FOR TAEAN POWER PLANT
COALspot.com (South Korea): Korea Western Power Co., Ltd is looking for total 1.12 million tons of Bituminous Coal for TAEAN Power Plant.
Accord ...
Wednesday, 13 January 10
INDONESIA ISSUES COAL, METAL DECREE
Indonesia has issued a ministerial decree which requires metal and coal miners to set aside a certain amount of their production for domestic needs, ...
Wednesday, 13 January 10
RESTING TIME FOR INDONESIAN COAL LOADING VESSELS
COALspot.com (Indonesia): 11 - 15 vessels are waiting in anchorages of Muara Berau and Tanjung Pemancingan to load total about 700,000 – ...
Wednesday, 13 January 10
SOUTH AFRICA STEAM COAL PRICE FALLS SHARPLY
Reuters reported that South African physical coal prices fell sharply on Tuesday with a March cargo trade at USD 87.5 a tonne FOB Richards Bay and d ...
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- Economic Council, Georgia
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- Edison Trading Spa - Italy
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- TNB Fuel Sdn Bhd - Malaysia
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