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Saturday, 06 March 10
ESSAR TO BUY US COAL FIRM FOR $550-600 MN
 Business-Standard reported that, the Essar Group is close to buying Trinity Coal, one of the top 10 coal producers in the US, in a deal worth $550-600 million (Rs 2,500-2,735 crore). Trinity is owned by private equity investment firm Denham Capital Management,
Sources with knowledge of the developments said Essar’s first major coal mine acquisition abroad would provide coking coal and thermal coal linkages for its steel mills in the US and for a power project under construction in India.
Trinity has mines in Kentucky and West Virginia in the US, with reserves of 200 million tonnes and an annual output of about 7 million tonnes.
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“Essar Power, which is implementing close to 4,650 Mw of power projects, has a 1,200-Mw power project coming up in Gujarat, dependent on imported coal”
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Sources said negotiations were at an advanced stage and the deal was likely to be closed within two weeks. An Essar Group spokesperson declined to comment.
Essar has a steel plant at Algoma in Canada, acquired in 2007 for $1.63 billion. It also has a steel mill in Minnesota in the US. Essar is expanding capacity at Minnesota Steel in two phases, with a 4.1 million tonnes per annum (mtpa) pellet plant and another 1.5 mtpa steel plant, which is expected to be completed by 2012 and 2015, respectively. It is also planning to expand capacity of Algoma Steel to 5 mtpa from 4 mtpa, said sources.
Essar Power, which is implementing close to 4,650 Mw of power projects, has a 1,200-Mw power project coming up in Gujarat, dependent on imported coal. It is setting up a Rs 4,800-crore power project at Salaya near Jamnagar in Gujarat and the imported coal-based project is slated for completion by 2011.
All major power producers are scouting for coal mines abroad, mainly in Indonesia, South Africa, Australia and even in the distant US market.
Leading power sector companies such as Tata Power, Reliance Power and GMR Energy have already acquired coal mines in Indonesia. In August 2007, Tata Power acquired a 30 per cent stake in Indonesian energy giant PT Bumi Resources by paying close to $1.3 billion. Anil Dhirubhai Ambani Group firm Reliance Power also acquired three coal mines in Indonesia, with plans to spend over $650 million (over Rs 3,000 crore) to develop these.
GMR Energy also acquired 100 per cent ownership interest of Barasentosa Lestari coal mine in Indonesia by investing Rs 400 crore.
In the last two years, almost all power project developers like state-owned National Thermal Power Corporation (NTPC), Essar Power, Adani Power, JSW Energy, Indiabulls Power and Lanco Infratech have been searching for coal mines in Indonesia, to fuel some of their proposed power projects.
The Sajjan Jindal promoted JSW Energy is also planning to invest over Rs 4,500 crore to acquire coal mines abroad.
In the past, the Essar Group had acquired Dhabi Group’s telecom businesses in Uganda and Congo, Warid Telecom Uganda and Warid Congo. It also acquired a 50 per cent stake in Kenya Petroleum Refineries (KPRL) from Shell, BP and Chevron for an undisclosed sum.
Source: Business-Standard
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Thursday, 03 June 10
INDO GOVERNMENT TRIES TO CALM BUSINESSES FEARS OVER FOREST - CLEARING MORATORIUM
The Jakarta Globe reported that, as producers of coal and palm oil continued to howl, the government on Tuesday offered reassurances that the develo ...
Thursday, 03 June 10
GOVT CONSIDERING IMPORT PARITY PRICE FOR DOMESTIC COAL
The government on June 1 said it is considering to price domestic coal on par with global rates, a move which may increase the cost of the raw mater ...
Wednesday, 02 June 10
SRI LANKA TESTS 1ST COAL POWER PLANT IN SEPT.
Sri Lanka will start testing its first 300 MegaWatt coal power plant in September with plans to connect it to the national distribution grid by Janu ...
Wednesday, 02 June 10
CHINA'S IRON ORE IMPORTS TO KEEP BEING THE BIGGEST FACTOR FOR DRY BULK FREIGHT RATES SAY READERS
With dry bulk freight rates staging a positive rally during most of May, the industry’s main benchmark, the Baltic Dry Index (BDI) has managed ...
Wednesday, 02 June 10
KIDECO TO PRODUCE 29.5 MILLION TONS OF COAL IN 2010
COALspot.com: Kideco to produce 29.5 million tons of coal in 2010 up 4.8 million or about 19 percent up from 2009 production. Kideco produced 24.7 m ...
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- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- The University of Queensland
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
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