Friday, March 28, 2008

Chowgule Steamships Signs Concession Agreement for Development of Jaigad Port

Stock Report

Chowgule Steamships Signs Concession Agreement for Development of Jaigad Port

Chowgule Steamships Ltd has announced that on March 28, 2008 Chowgule Ports & Infrastructure Pvt Ltd (CPIPL), a Company co-promoted by Chowgule Steamships Ltd, has signed a Concession Agreement with Maharashtra Maritime Board (MMB) inter alia for development of a minor port at Jaigad.

CPIPL is a Special Purpose Vehicle (SPV) floated to undertake the port infrastructure development and Ship Repair projects at Jaigad. The port development projects would be undertaken under BOOST basis. In terms of the Concession Agreement, MMB has also an option to contribute up to 11% in the eventual capital of CPIPL.

The stock was trading at Rs.37.05, up by Rs.1.75 or 4.96%. The stock hit an intraday high of Rs.37.05 and low of Rs.37.

The total traded quantity was 3546 compared to 2 week average of 79267.

Source: Equity Bulls

Posted On: 3/28/2008 3:22:24 AM

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Monday, March 17, 2008

JSW in $2 bn deal with Japan’s K Line for transporting coal

JSW in $2 bn deal with Japan’s K Line

JSW is setting up a 1,200MW coal-fired power plant in Jaigad, Ratnagiri district, Maharashtra, and a similar plant at Simar in Gujarat

P. Manoj

Bangalore: India’s JSW Group has signed a $2 billion (Rs8,160 crore), 10-year deal with Japan’s third biggest shipping firm by sales, Kawasaki Kisen Kaisha Ltd (or K Line), for transporting coal that will be used to fire the company’s steel and power plants, an arrangement that will ensure that the company is not affected by an increase in freight rates.
K Line will deploy 10 dry bulk carriers to ship coking and thermal coal from mines owned by the OP Jindal group in Indonesia and Mozambique, as well as coal from mines in Australia and China.
For JSW, the deal is beneficial as it will insulate the company from any escalation in freight rates, said a company executive who does not want to be named. Dry bulk shipping rates have been rising mainly due to demands for shipping raw materials into China and India.
The contract was signed by Hiroyuki Maekawa, president of K Line, and Sajjan Jindal, vice-chairman and managing director of JSW Steel Ltd and chairman of JSW Energy Ltd.
The group needs more coal as it has some new plants coming up. JSW is setting up a 1,200MW coal-fired power plant in Jaigad, Ratnagiri district, Maharashtra, and a similar plant at Simar in Gujarat.
It is also planning a 900MW power plant close to its steel plant at Vijayanagar, Bellary district, Karnataka. The company currently operates a 450MW plant in Bellary, which, apart from meeting its own captive needs, sells power to Power Trading Corp. Ltd.
Besides, JSW Steel is expanding its existing steel mill in Vijayanagar and plans to build two new mills in Jharkhand and West Bengal. JSW Energy, the group’s power generation unit, plans to expand to 15,000MW by 2015 (including coal thermal and hydropower plants).
The contract with K Line will start later in 2008 with two panamax ships. Five capesize ships and three more post-panamax ships will be deployed from 2011-12. By 2015, when all the ships enter service, JSW will be importing about 12 million tonnes of coal. “Freight revenue from the 10 vessels is expected to be over $200 million a year,” K Line said in a statement.
JSW had earlier concluded ship charter contracts with K Line for three vessels—a panamax starting 2008 and two post-panamaxes starting 2009. Thus, the total volume of coal K Line will transport for JSW by 2015 is expected to be around 15 million tonnes per annum, which is more than 40% of the total volume of coal to be imported by the two companies.
Panamax ships are called so because they are the biggest ships that can sail through the Panama Canal fully laden.

Monday, March 3, 2008

Mega power plant in Lalitpur, UP

Mega power plant in Lalitpur
2 Mar 2008, 0223 hrs IST,Pankaj Shah,TNN

LUCKNOW: In a major leap to achieve self-sufficiency by 2012, the UP Power Corporation Limited (UPPCL) has decided to set up a 4,000 mw ultra mega thermal power plant in Lalitpur district.

This would be the biggest plant to be set up by the corporation with the help of National Thermal Power Corporation (NTPC).

The plant, larger than the gas-based Dadri Power plant proposed in the NCR region, is expected to come up by 2012, by when most of the other proposed plants are also expected to be completed.

Chairman, UPPCL, GB Patnaik said that they would be entering into an agreement with the NTPC "within 30 days" for setting up of the mega project.

"Our target is to have power generation of 10,000 mw which is the basic requirement of the state," he said while talking to TOI. Interestingly, such type of power plants are set up in areas which are either on the sea coast or in the coal belt.

"We cannot change the geography of the state, but we can still try to have that," he said.

The decision to install the mega project comes barely days after a 'separate coal block' in Chedipura district of Orissa was allocated to UP along with Chhattisgarh and Maharashtra at the cost of Rs 40,000 crore by the Centre.

According to the arrangement, UP would be the biggest partner with 50 per cent share.

Sunday, March 2, 2008

168 power projects cleared in 3 years

Environmental clearnace givrn to 168 power projects

01 March 2008

168 power projects have been accorded environmental clearance during the last three years. This includes 128 thermal power projects, 39 hydroelectric projects and 1 nuclear power project.

As of 15th February, 2008, 43 power projects are pending for environmental clearance, which include 37 thermal power projects, five hydroelectric projects and one nuclear power project. To facilitate early decision on these projects, their status is monitored continuously.

The environment impact assessment (EIA) notification, 2006, provides for appraisal of the impact that a project will have on the environment. This is done through EIA reports submitted by the project proponents and assessed by the multi-disciplinary expert appraisal committees constituted by the ministry of environment and forests.