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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, 19 January 10
COAL FOR DOMESTIC USERS
While the government is already almost a year behind schedule in issuing regulations to implement the new mining law, mineral producers have been&nb ...
Tuesday, 19 January 10
RISING DEMAND FROM POWER FIRMS TO PUSH COAL PRICES
The resurgence of the Chinese economy, along with harsh winter conditions across the country, is likely to push coal prices up in the short term. In ...
Tuesday, 19 January 10
ESSAR'S MEGA ACQUISITION PLANS
India’s Essar Group has carved a mega plan that includes a slew of acquisitions and investments in assets across various businesses. CNBC-TV18 ...
Monday, 18 January 10
INDONESIA SHIPPED 15.90 PERCENT OF TOTAL COAL EXPORTS IN 2009 TO INDIA
COALspot.com (Indonesia): Indonesia, the world largest coal exporter, exported 19.07 percent of the total coal export in 2009 to China and 15. ...
Monday, 18 January 10
BHP TO SPEND $267 MILLION ON QUEENSLAND COKING COAL
BHP Billiton Ltd, the world’s largest mining company, will spend $267 million to accelerate development of the Caval Ridge mine and the Hay Po ...
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- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
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- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
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- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
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- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Australian Coal Association
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- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
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- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
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- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Wilmar Investment Holdings
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- Ministry of Transport, Egypt
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- Marubeni Corporation - India
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
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- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
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- Ceylon Electricity Board - Sri Lanka
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- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
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- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- PTC India Limited - India
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
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- Energy Development Corp, Philippines
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- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
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