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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, 16 February 10
KPMG PENS 6-POINT STRATEGY FOR COAL INDIA RESTRUCTURING
Coal India Ltd (CIL) has appointed KPMG Advisory Services Pvt Ltd to advise on consolidating its position as the country’s prime energy provid ...
Monday, 15 February 10
MINING LAW TO BE REVISED
Law No. 4 of 2009 on mineral and coal mining will be revised after a working visit of the Bangka Belitung (Babel) Provincial legislative assembly (D ...
Monday, 15 February 10
EURO COAL PRICES SOFTEN AS CHINESE LUNAR NEW YEAR HOLIDAYS START
Prices of prompt cargoes of coal for delivery into Europe weakened last week on a lack of European demand and market nerves over the possible impact ...
Monday, 15 February 10
INDONESIAN COAL SUFFERS SETBACK AS SUMATRA RAIL LINE HELD UP AGAIN
State-owned coal miner PT Tambang Batubara Bukit Asam’s $1.06 billion rail project in Sumatra faces more delays, and the cost of the project i ...
Monday, 15 February 10
MEC INFRA TO COMMISSION INDONESIA RAIL PROJECT
A joint venture between Ras Al Khaimah Investment Authority (Rakia) RAK Investment Authority and Minerals Energy and Commodities Holdings, a f ...
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Showing 5991 to 5995 news of total 6871 |
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- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- The University of Queensland
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- White Energy Company Limited
- Electricity Authority, New Zealand
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- VISA Power Limited - India
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Minerals Council of Australia
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
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