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