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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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Wednesday, 17 February 10
JORONG COULD COST BANPU 5%
Banpu Plc, Asean's biggest coal miner, forecasts a 5% drop in revenue if its suspended coal mine in Indonesia is closed for one year, says presiden ...
Wednesday, 17 February 10
RUSSIA KRU JAN COAL EXPORTS DOWN 4 PCT
Kuzbassrazrezugol, Russia's second largest steam coal producer, exported 1.859 million tonnes of coal last month, down 80,000 tonnes or 4 percent f ...
Wednesday, 17 February 10
VEDANTA SET FOR PORTS ENTRY WITH VIZAG TENDER
Vedanta, along with Leighton Contractors India, quoted a revenue share of 38.1% to win the 30-year contract
Mining and metals conglomerate Vedant ...
Tuesday, 16 February 10
TRENDS DRY BULK MARKET ... TRENDS - BRS
The start of the Chinese New Year had an immediate impact on rates and for once all the dry bulk segments lost similar ground.
The BDI fell 5%, a ...
Tuesday, 16 February 10
LAW POSES THREAT TO INDONESIA'S COAL INDUSTRY
A zoning law could cost coal miners billions of dollars this year alone, hurt investment in the industry and disrupt the supply of the fuel to the c ...
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Showing 5986 to 5990 news of total 6871 |
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- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Parliament of New Zealand
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Australian Coal Association
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Parry Sugars Refinery, India
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