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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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Wednesday, 31 March 10
COAL INDIA MULLS JOINT VENTURE WITH RIO TINTO AND PEABODY - DNA
DNA reported that, Coal India Ltd. (CIL) has finalised two key contenders for its international joint venture (JV) in Australian and US each. The co ...
Wednesday, 31 March 10
DRY BULK MARKET STILL MODERATELY FALLING, BUT POSITIVE SIGNS APPEAR ON THE HORIZON - HELLENIC SHIPPING
The irregularities of the current dry bulk market have been more than evident in the fact that panamax vessels today earn more than their larger cap ...
Wednesday, 31 March 10
INDIKA ENERGYS PROFIT HIT BY FOREX LOSS AND CABOTAGE - THE JAKARTA GLOBE
The Jakarta Globe reportd that, PT Indika Energy posted a 30 percent drop in 2009 net profit due to a foreign exchange loss and impairment of intang ...
Wednesday, 31 March 10
ITMG TO UP COAL OUTPUT DESPITE PERMIT PROBLEMS - THE JAKARTA POST
The Jakarta Post reported that, the country’s third largest coal producer PT Indo Tambang Raya Megah (ITMG) said it can raise output although ...
Tuesday, 30 March 10
ANALYST SEES BDI LIFT, SUGGESTS DRY BULK SHORT SQUEEZE
Analysts at Credit Suisse are bullish on Diana and see a potential short squeeze elsewhere in the sector. The Baltic Dry Index (BDI) -- an industry ...
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Showing 5911 to 5915 news of total 6871 |
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- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Marubeni Corporation - India
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Parliament of New Zealand
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Eastern Energy - Thailand
- VISA Power Limited - India
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Minerals Council of Australia
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Planning Commission, India
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
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