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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, 12 January 10
COAL PRICE FORECAST RAISED AT ANZ ON STRONGER CHINESE DEMAND
Power-station coal price forecasts for this year were raised 19 percent by Australia & New Zealand Banking Group Ltd. on rising demand from Chin ...
Tuesday, 12 January 10
BUMIS SALE CONTRACT ONLY REACHED 35 PERCENT
PT Bumi Resources has only completed 35 percent if its coal sale contract this year. “More than 65 percent of our sale volume did not have a c ...
Monday, 11 January 10
THE MARKET IS LIKELY TO BE STEADY - VISTAAR SINGAPORE
COALspot.com (Singapore): The freight market for the first week of the year was quite active and the market especially in the Panamax and Supramax s ...
Monday, 11 January 10
CHINAS COAL EXPORT MAY DECLINE 50% IN 2009
Preliminary data released by China's General Administration of Customs (GAC) on Wednesday showed that China's coal export reached 2.05 million ton ...
Saturday, 09 January 10
THE FAR EAST MARKET STARTED TO STABILIZE - FEARNLEYS
Handy
The FEAST market started to stabilize after the quite holidays and we saw growing activity fed by Chinese coal and iron ore imports and Indi ...
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- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- PTC India Limited - India
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Sojitz Corporation - Japan
- Planning Commission, India
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
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