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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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Monday, 04 January 10
TOKYO ELECTRIC SEALS XSTRATA COAL DEAL
Tokyo Electric Power Co has agreed to pay about $US85 a tonne for Australian thermal coal in 2010 from miner Xstrata, a source familiar with the pri ...
Monday, 04 January 10
IND-BARATH TO SHIFT PROJECT FROM AP TO TN
Hyderabad-based power producer Ind–Barath is planning to set up a power plant at Tuticorin, Tamil Nadu. The proposed project would attract inv ...
Sunday, 03 January 10
NEWCASTLE THERMAL COAL PRICES FALL IN FIRST DECLINE IN 3 WEEKS
Power-station coal prices at Australia’s Newcastle port, a benchmark for Asia, declined 1.5 percent, falling for the first time in three weeks ...
Sunday, 03 January 10
NTPC SEEKS REPORT ON TRANSPORTING COAL THROUGH WATERWAYS
State-run National Thermal Power Corporation (NTPC), the country’s largest power utility, has asked for a “holistic” feasibility r ...
Sunday, 03 January 10
BHP TO STAY IN MARUWAI AND TO KEEP 75 PERCENT OF THE STAKE
Despite recent statements that it would pull out completely from Indonesia, the world's largest mining company BHP Billiton has now admitted that i ...
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- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- White Energy Company Limited
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Economic Council, Georgia
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Australian Coal Association
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
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