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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, 08 April 10
INDONESIAN ENERGY MINISTRY SEEKS LONGER MINING CONTRACTS - THE JAKARTAGLOBE
The Jakarta Globe reported that, Energy Minister Darwin Zahedy Saleh said he would seek to amend the mining law to address investors’ complain ...
Thursday, 08 April 10
NAPOCOR GETS ONE OFFER AT COAL TENDER - ABS CBN
ABS- CBN News reported that, Philippine power producer National Power Corp. (Napocor) is likely to buy 50,000 tons of steam coal from PT Berau Coal ...
Wednesday, 07 April 10
DRY BULK MARKET LOOKING FOR DIRECTION
The dry bulk market has kept a low profile during the past week, as evidenced by the small changes of a usually rather turbulent Baltic Dry Index (B ...
Tuesday, 06 April 10
NEWCASTLE COAL EXPORTS RISE 24%, SHIP QUEUE SHORTENS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in power st ...
Tuesday, 06 April 10
UAE STEEL TRADERS FEAR LOSSES ON GLOBAL HIKE
A sudden spurt in the price of iron ore in the international market has caught local steel traders and manufacturers and a host of other steel-depen ...
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Showing 5896 to 5900 news of total 6871 |
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- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- The University of Queensland
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Australian Coal Association
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Planning Commission, India
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- PowerSource Philippines DevCo
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