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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 $650 million (over Rs 3,000 crore) to develop these.
GMR Energy also acquired 100 per cent ownership interest of Barasentosa Lestari coal mine in Indonesia by investing Rs 400 crore.
In the last two years, almost all power project developers like state-owned National Thermal Power Corporation (NTPC), Essar Power, Adani Power, JSW Energy, Indiabulls Power and Lanco Infratech have been searching for coal mines in Indonesia, to fuel some of their proposed power projects.
The Sajjan Jindal promoted JSW Energy is also planning to invest over Rs 4,500 crore to acquire coal mines abroad.
In the past, the Essar Group had acquired Dhabi Group’s telecom businesses in Uganda and Congo, Warid Telecom Uganda and Warid Congo. It also acquired a 50 per cent stake in Kenya Petroleum Refineries (KPRL) from Shell, BP and Chevron for an undisclosed sum.
Source: Business-Standard
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Sunday, 17 January 10
THE FUTURES FOR THREE YEARS (2010 - 2012) FIRMED UP - VISTAAR SINGAPORE
COALspot.com (Singapore): The freight market was a bit mixed with BDI up by about 159 points and closed at 3,299 points.
BDI
The cape index cont ...
Sunday, 17 January 10
NTPC TO DOUBLE CAPACITY BY 2017
NTPC, which will launch its follow-on public offer on February 3, plans to more than double its generating capacity to over 70,000 mega watts by 201 ...
Saturday, 16 January 10
HANDY CONTINUED FIRM CONDITIONS FOR MARKET IN THE ATLANTIC
HANDY
Continued firm conditions for the Handymax / Smax market in the Atlantic with the BSI having a continued upwards momentum. US$ 45,000 ac ...
Friday, 15 January 10
INDONESIA COAL - HEAVY RAINS HAVE LITTLE IMPACT ON COAL OUTPUT
Coal shipments from Indonesia's main coal-producing area are unlikely to be hit by heavy rains during January-February as many miners are prepared ...
Friday, 15 January 10
GOVT BRINGS IN DOMESTIC COAL MARKET OBLIGATION
The Energy and Mineral Resources Ministry has issued a ministerial decree requiring producers of coal and other minerals to allocate a proportion ...
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- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Planning Commission, India
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
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