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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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Tuesday, 11 May 10
DRY BULK RATES SHOOT UP ON STRONG CARGO DEMAND
The dry bulk industry’s benchmark, the Baltic Dry Index (BDI) has kept its momentum, as predicted by analysts and shipping experts, managing t ...
Saturday, 08 May 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS AT AROUND PANAMAX / $ 21500 & SUPRAMAX / $ 18500 PER DAY - VISTAAR SHIPPING
COALspot.com: The BDI continued to go up and was up by 7.57 pct even though the stock markets was severely affected with worries on Greek debt crisi ...
Saturday, 08 May 10
MAHAGENCO TO IMPORT 3.35 MILLION TON OF COAL
COALspot.com: Indian utility Maharashtra State Power Generation Co. Ltd. is in market for 3.35 million tones of imported coal. The purchase of coal ...
Saturday, 08 May 10
NAPOCOR BUYS 122,000 TONS COAL - ABC CBN NEWS
ABC - CBN News reported that, State-run National Power Corp. (Napocor) said on Thursday it awarded 2 contracts for the supply of a total 122,000 ton ...
Saturday, 08 May 10
RICHARDS BAY COAL SHIPMENTS FALL TO AN 11-MONTH LOW - BLOOMBERG
Bloomberg reported that, Coal shipments from Richards Bay Coal Terminal, Africa’s biggest export facility for the fuel, fell to an 11-month lo ...
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- Oldendorff Carriers - Singapore
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- MS Steel International - UAE
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
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- Africa Commodities Group - South Africa
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- Gujarat Sidhee Cement - India
- Minerals Council of Australia
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- Wilmar Investment Holdings
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- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
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- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
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- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
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- Indonesian Coal Mining Association
- Parliament of New Zealand
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- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
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- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
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- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
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- Deloitte Consulting - India
- Attock Cement Pakistan Limited
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- SMC Global Power, Philippines
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- Planning Commission, India
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- Bayan Resources Tbk. - Indonesia
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- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
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- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
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- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
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- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
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- CNBM International Corporation - China
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- White Energy Company Limited
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
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- Trasteel International SA, Italy
- Indian Energy Exchange, India
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