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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, 21 January 10
HANDYMAX - SHORT PERIOD OWNERS IDEAS ARE AROUND MID/LOW 20S - FEARNLEYS AS
HANDY
The BSI moved in a downward direction since last Friday reflecting minor a ...
Thursday, 21 January 10
ASF GROUP TO COMMENCE COAL SALES TO CHINA BY FEBRUARY 2010
Sydney-based China energy and resource conduit, ASF Group has struck an agreement to supply coal to China.
In September 2009, ASF announced a ven ...
Thursday, 21 January 10
INDONESIA BUKIT ASAM AGREES ON LOWER COAL PRICE
Indonesian state coal miner PT Tambang Batubara Bukit Asam Tbk has agreed with a local power plant to set 2010 coal prices at 23 percent lower than ...
Thursday, 21 January 10
CABOTAGE POLICY POSTPONED
The Transportation Ministry has decided to postpone for one year the full enforcement of the cabotage principle – a maritime term for the proh ...
Thursday, 21 January 10
MEC IN TALKS WITH TATA POWER ON COAL - TRADE
The UAE's Middle East Coal is in talks to supply coal to Tata Power, India's biggest private sector power firm, from its new Indonesian operations ...
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- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
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