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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, 04 February 10
NO AMDAL, NO COAL MINING IN KALIMANTAN: MINISTRY
To prevent further environmental damage, the government has said it would revoke the licenses of mining firms operating in Kalimantan that do not ha ...
Thursday, 04 February 10
ANTICIPATING DOMESTIC COAL DEMAND
Indonesia has an abundant amount of coal reserves, which in 2008 is estimated at 7,12 billion tones. Coal production in 2008 reached 231,18 mi ...
Wednesday, 03 February 10
CHINA'S MAIN COAL PRICES FALL AS WINTER DEMAND EASES
Weekly coal prices at China's Qinhuangdao port, a benchmark in the world's biggest producer and consumer of the fuel, fell for the first time in s ...
Wednesday, 03 February 10
NEWCASTLE COAL EXPORTS RISE 3%; SHIP QUEUE SHORTENS
Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, increased 3 percent last week while the ...
Wednesday, 03 February 10
INDONESIA BUKIT ASAM SEES DOUBLE DIGIT 2010 REV GROWTH
* 2009 net profit rose an estimated 50 pct
* Sees opportunities for overseas acquisitions
Indonesian state-owned coal miner Bukit Asam saw 2009 ...
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Showing 6031 to 6035 news of total 6871 |
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- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- PTC India Limited - India
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- London Commodity Brokers - England
- ICICI Bank Limited - India
- MS Steel International - UAE
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Australian Coal Association
- The University of Queensland
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- White Energy Company Limited
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Parliament of New Zealand
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
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