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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, 04 March 10
THE INDIAN MARKET WAS STILL STRONG - FEARNRESEARCH
HANDY
Activity has gradually improved in the Atlantic throughout the week. All areas&n ...
Thursday, 04 March 10
GLOBAL COAL PRICES GETS SUPPORT FROM EM DEMAND
Commodity Online reported that, AP12 coal prices look well supported in 2010 thanks to positive outlook for Chinese coal demand whereas coal demand ...
Thursday, 04 March 10
THREE NEW GLOBAL PRICES INDEXES FOR COKING COAL
Commodity Online reported that, On February 26, Energy Publishing Co. broke new ground in the coal-marketing industry when it began publishing three ...
Tuesday, 02 March 10
INDIA WAS AGAIN THE WINNER IN THE EAST, WITH SUPRAMAXES FIXING CLOSE TO US$40,000/DAY FROM THE WEST COAST
There was little movement in the BDI this week but behind the scenes, the Supramax and Handy size segments posted significant gains, correcting the ...
Tuesday, 02 March 10
INDONESIA'S PROTECTED FORESTS NOW OPEN TO DEVELOPMENT
The Jakarta Globe reported that, President Susilo Bambang Yudhoyono has signed a decree to allow mining, power plants and other projects deemed stra ...
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- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Australian Coal Association
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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