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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, 18 March 10
INDONESIAN COAL PRODUCTION EXPECTED TO BEAT EARLIER FORECAST
The Jakarta Globe reported that, the government expects coal output this year to exceed its initial projection of 250 million metric tons as the dri ...
Thursday, 18 March 10
COAL PILING UP AT EAST COAST PORTS ON RAKE SHORTAGE
Business Line reported that, more than three million tonnes (mt) of imported coal are awaiting evacuation at the east coast ports of Paradip, Visakh ...
Tuesday, 16 March 10
INDONESIA ROUND VOYAGES WERE GETTING BETWEEN HIGH TEENS - BRS
Another strong week for the bulk market and rates in all segments are now back above pre-Chinese New Year levels. Atlantic volumes remain robust, an ...
Tuesday, 16 March 10
MADHUCON GETS MINING LICENSE IN INDONESIA
Business-Standard reported that, PT Madhucon Indonesia, a subsidiary of the Hyderabad-based infrastructure company Madhucon Projects Ltd, has been g ...
Monday, 15 March 10
BOB KAMANDANU ON INDONESIAS PEAK COAL PRODUCTION, ENERGY SECURITY AND EXPORTS TO INDIA
Bob Kamandanu, the chairman of Indonesian Coal Producers Association (APBI), said the country has an estimated 50 to 70 years of coal reserves.
T ...
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- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- PTC India Limited - India
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
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