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