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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, 11 February 10
THE INDIAN MARKET SOFTENING A BIT - FEARNRESEARCH
Handy
The BSI has gone down for 3 weeks now but it is more a reflection of the Pac market. Activity in the Atl remains solid and rates remain firm ...
Thursday, 11 February 10
SOUTH AFRICA COAL EXPORTS DROP TO INDIA, CHINA
South African coal exports to India from Richards Bay Coal Terminal fell 39% in January from December's levels while shipments to China dropped 55% ...
Thursday, 11 February 10
JSW STEEL IS CLOSE TO ACQUIRING TWO COAL MINES IN THE US
“We are in advanced stages of negotiation and the deal will be completed in a month or two,” a company official told DNA Money on the co ...
Wednesday, 10 February 10
BHP TAKES MARUWAI SALE OFF THE TABLE, MINISTRY SAYS
Australian mining giant BHP Billiton may cancel a plan to sell a stake in its coal mining project in Maruwai, East Kalimantan, an official at the En ...
Wednesday, 10 February 10
JPMORGAN FORECASTS A 5.7% GROWTH IN SEABORNE IRON ORE SHIPMENTS, 3.8% FOR COAL AND GRAIN THIS YEAR
This year volumes of iron ore transportation by sea may grow to 5.7%, coal and grain up 3.8% over numbers in 2009, Ukrrudprom reports citing analyst ...
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Showing 6006 to 6010 news of total 6871 |
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- The University of Queensland
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
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