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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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Saturday, 22 May 10
INDUSTRY QUESTIONS STEAM COAL PRICE ANOMALY
Five South Korean utilities have secured a deal for 3.13 million tonnes of Australian thermal coal with a calorific value of 6,080kcal/kg for delive ...
Wednesday, 19 May 10
DRY BULK FREIGHT RATES' RALLY MAY BE SET TO END
The Baltic Dry Index (BDI) has rallied these past couple of weeks, almost touching the 4,000 point mark. But this positive development for dry bulk ...
Wednesday, 19 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE LENGTHENS
Coal shipments from Australia's Newcastle port, the world's biggest export harbor for the fuel used in power stations, rose 2.9 percent last week ...
Tuesday, 18 May 10
THE BDI HIT A FIVE-MONTH HIGH AT THE CLOSE OF LAST WEEK
According to BRS, One of the oldest ship broker, at 3,929 points, the BDI hit a five-month high at the close of last week. The Capesize four time ch ...
Tuesday, 18 May 10
COAL TRADER CHINA QINFA TO BUY TWO BULK CARRIERS FOR 69 MLN USD
China Qinfa Group, a leading non-State-owned coal trader on China's mainland, said Sunday it had signed shipbuilding contracts to pay 69 million U. ...
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- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Minerals Council of Australia
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- ASAPP Information Group - India
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- VISA Power Limited - India
- Indonesian Coal Mining Association
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