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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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Tuesday, 23 February 10
UAE COMPANY TO ACQUIRE CONTROL OF ALLBOND MAKMUR
The Jakarta globe reported that, Renuka Energy Resources Holding, based in the United Arab Emirates, has signed an agreement to acquire 80 percent o ...
Tuesday, 23 February 10
CIL SHORTLISTS 24 FOREIGN COS FOR JV
India's Economic Times reported that, Coal India has shortlisted 24 foreign firms — six each from the US, Australia, South Africa and Indones ...
Saturday, 20 February 10
THE FREIGHT MARKET CONTINUED TO BE SOFT THIS WEEK - CAPT. REDDY
COALspot.com: The freight market continued to be soft this week as still affect of Chinese new year holidays continue. However the index overall had ...
Friday, 19 February 10
MAKING THE JOINT COOPERATION OF PRIVATE GOVERNMENT IN INDONESIA
COALspot.com - Press Release
1. Revision of the presidential decree 67/2005 has been signed by the President on January 28, 2010 with the public ...
Thursday, 18 February 10
THE INDIAN MARKET IS FIRMING A BIT, DUE TO LACK OF TONNAGE IN THE REGION
HANDY
The BSI still decline as holidays around the world have reduced trading.
...
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- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- The University of Queensland
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- White Energy Company Limited
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
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