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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 $650 million (over Rs 3,000 crore) to develop these.
GMR Energy also acquired 100 per cent ownership interest of Barasentosa Lestari coal mine in Indonesia by investing Rs 400 crore.
In the last two years, almost all power project developers like state-owned National Thermal Power Corporation (NTPC), Essar Power, Adani Power, JSW Energy, Indiabulls Power and Lanco Infratech have been searching for coal mines in Indonesia, to fuel some of their proposed power projects.
The Sajjan Jindal promoted JSW Energy is also planning to invest over Rs 4,500 crore to acquire coal mines abroad.
In the past, the Essar Group had acquired Dhabi Group’s telecom businesses in Uganda and Congo, Warid Telecom Uganda and Warid Congo. It also acquired a 50 per cent stake in Kenya Petroleum Refineries (KPRL) from Shell, BP and Chevron for an undisclosed sum.
Source: Business-Standard
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Sunday, 16 May 10
INDIKA ENERGY & COAL ASSETS EXPANSION
Insider stories reported that, PT Indika Energy Tbk (INDY) has three portfolio coal assets, PT Kideco Jaya Agung, coal asset in East Kalimanta ...
Saturday, 15 May 10
THE AVERAGE CHARTER HIRE FOR CAPE REACHES US$ 49,931 PER DAY - VISTAAR SINGAPORE
COALspot.com: "The freight market was extremely buoyant this week with BDI almost up by 9 pct and the market was very firm in Feast/SE Asia sec ...
Saturday, 15 May 10
DRY BULK MARKET POSTS HEALTHY WEEKLY GAINS
The dry bulk market has reached new highs this week, the second consecutive solid one, with the industry’s benchmark, the Baltic Dry Index (BD ...
Friday, 14 May 10
JSW BUYS COAL MINES IN US, PRODUCTION STARTS IN SEPT
JSW Steel on Friday said it has completed $100 million acquisition of coking coal assets in the US and will start production from September to parti ...
Friday, 14 May 10
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL PROJECTS - PROACTIVE INVESTORS
Proactive Investors reported that, Kangaroo Resources (ASX: KRL) is preparing to complete the acquisition of its five outstanding Indonesian coal pr ...
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- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Planning Commission, India
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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