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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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- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Planning Commission, India
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- The University of Queensland
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
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