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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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Monday, 15 March 10
CIL BOARD CLEARS 10 PROPOSALS FOR STRATEGIC PARTNERSHIP OR JVS
Economic Times reported that, Towards achieving a global footprint, state-owned Coal India (CIL) is eyeing strategic partnership or joint ventures w ...
Sunday, 14 March 10
CHINESE COAL PRICE MAY RISE TO TRADE NEAR SPOT, MACQUARIE SAYS
Bloomberg reported that, Steel mills in China, the world’s biggest producer of the alloy, may pay more for domestic coking coal this year as d ...
Sunday, 14 March 10
THERE IS NO INDICATION OF SLOWING DOWN OF IRON ORE AND COAL IMPORTS BY CHINA - VISTAAR SINGAPORE
COALspot.com: The dry bulk freight market continued the upward trend and the BDI closed 8.14 pct this week.
The Cape index up by 10.32 pct ...
Saturday, 13 March 10
INDONESIA COAL EXPORTS DROP IN FEBRUARY
COALspot.com: Indonesia, the world largest coal exporter, exported 24.38 million tons in January 2010 which fell slightly to 22.89 mln ton of coal i ...
Saturday, 13 March 10
INDONESIA TELLS BUKIT ASAM TO DITCH PARTNER IN SUMATRA RAILWAY UNLESS PROJECT STARTS
The Jakarta Globe reported that, the Indonesian government has urged state-owned miner PT Tambang Batubara Bukit Asam to look for new partners to he ...
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Showing 5941 to 5945 news of total 6871 |
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- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- White Energy Company Limited
- Australian Coal Association
- Planning Commission, India
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
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