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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, 27 May 10
DRY BULK RATES REACH 2010 HIGHS, BUT FUTURE REMAINS UNCERTAIN
This week is proving to be a milestone for the dry bulk market, as the Baltic Dry Index has propelled itself at never before seen levels for 2010. Y ...
Wednesday, 26 May 10
ADANI GROUP EYES AFRICA FOR COAL MINING PROJECTS
India Info Line reported that, After acquiring coal mines for importing Indonesian coal to run its thermal power plants in the country, the Adani Gr ...
Wednesday, 26 May 10
DRY BULK MARKET SHOOTS UP, CLOSES IN ON POST-CRISIS ERA HIGHS
In an opposite trend than that of the previous week, the Baltic Dry Index (BDI), a benchmark for tracking costs to haul commodities at sea, shot up ...
Wednesday, 26 May 10
BUMI TO CUT UP TO USD 1 BILLION DEBT IN 12 MONTHS
Press Release : PT Bumi Resources Tbk. announced yesterday that it has revived its intent to issue non preemptive shares and added this to the agend ...
Tuesday, 25 May 10
COAL PRODUCTION MAY REACH 320 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce as much as 320 million tons of coal this year, an increase of nearly 7 perc ...
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Showing 5811 to 5815 news of total 6871 |
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- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Australian Coal Association
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
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