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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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Saturday, 06 February 10
COAL MINISTRY SEEKS CUT IN IMPORT DUTY
The coal ministry wants the finance ministry to reduce the 5.1% import duty on thermal coal and continue with the existing zero import duty on cokin ...
Friday, 05 February 10
IN 2010, CHINA COAL OUTPUT TO REACH AROUND 3.3BLN T
It is expected that China's coal production in 2010 will reach around 3.3bln tons. It is predicted that in the first quarter of 2010, the tight coa ...
Thursday, 04 February 10
INDIA REMAINS FIRM - FEARNRESEARCH
CHARTERING - DRY BULK
Handy
The BSI has continued it´s downward movement for 2 weeks now.Nevertheless activity in the atlantic remains bu ...
Thursday, 04 February 10
INFRASTRUCTURE DEVELOPMENT & INFRASTRUCTURE ASIA 2010
ASIA-PACIFIC MINISTERIAL CONFERENCE ON PUBLIC-PRIVATE PARTNERSHIPS FOR INFRASTRUCTURE DEVELOPMENT & INFRASTRUCTURE ASIA 2010
IPFA TO JOIN INF ...
Thursday, 04 February 10
INDIA`S APPETITE FOR COAL EXPECTED TO RISE SHARPLY
Coal powers more than half of India's electricity plants and demand for the commodity is expected to rise sharply as the third-largest Asian econom ...
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Showing 6021 to 6025 news of total 6871 |
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- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
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