India's largest coal handling agency - Mjunction

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CORPORATE Sandvik installs its first primary gyratory crusher Coal Insights Bureau Sandvik Mining and Construction, a unit of Sweden-based Sandvik Group, has installed its first primary gyratory crusher, a CG820, in a record time of only 18 days, at the iron ore mine of Tata Steel Ltd at Noamundi, a company official said. “This is the quickest know time for replacement of an old crusher, including total installation of a new primary gyratory crusher,” the Regional Product Line Manager, Mine Crushing, Sandvik Asia, Avijit Paul, said. The 18 day-period of installation comprised dismantling the old crusher and two feeders, assembly and installation of the gyratory crusher, erection of apron feeders, installation of VFD drive and complete automation, Paul said. A replacement and installation of this size usually requires a minimum time of 30 days, he claimed. The crusher was supplied by Sandvik Mining and Construction for the processing of ore with a maximum feed size of 1200 mm (47.2 inches) and capacity up to 3500 mtps (3858 stph). The CG820 primary gyratory crusher replaced a Fuller Trailor primary gyratory crusher in the plant. The replacement will lead to modernisation of the primary crushing stage, increased capacity, large feed size intake and a more power drive, Paul said. According to him, Tata Steel chose Sandvik as supplier due to its ability to present a technically superior design with such features as spherical spider bearing, hydraulic adjustment, secured concave liners, hydraulic tank instrumentation system and the unique Automative Setting Regulation System. “In addition, delivery time was one of the key points in securing the order. The installation time was the shortest recorded at Tata Steel for a job of this magnitude,” he added. “The Sandvik CG820 primary gyratory crusher supply will be a reference point of major value, since it is the first crusher of this type to be supplied by Sandvik and has been supplied to the world-renowned company,” Paul said. Moreover, the overall job of dismantling, installation and commissioning was a success in terms of time, he added. Sandvik is a global industrial group with advanced products and world-leading positions in selected areas – tools for metal cutting, equipment and tools for the mining and construction industries, stainless materials, special alloys, metallic and ceramic resistance materials as well as process systems. The company has representation in 130 countries with annual sales of nearly SEK 72,000 million. Sandvik Mining and Construction is a business area within the Sandvik Group and a leading global supplier of equipment, cemented-carbide tools, service and technical solutions for the excavation and sizing of rocks and minerals in the mining and construction industries. COAL INSIGHTS 62 October 2010
CORPORATE Cil in top league after ipo success Coal Insights Bureau Coal India Ltd (CIL) is aiming at a plum position among the top 10 valued companies when its shares get listed in the stock exchanges on November 4, a day ahead of Diwali. In keeping with expectations, a panel of ministers has finalised the offer price at `245 per share, paving the way for the listing of the company’s shares in the Bombay Stock Exchange and National Stock Exchange. There were all indications that the government is likely to price the IPO at the top end of the price range, raising about $3.5 billion. India is selling stakes in around 60 firms over the next few years, and the strong appetite for Coal India contrasts with the sluggish demand for some of its recent offerings and adds pressure on the government to price future deals attractively. SCI keen on logistics JV with CIL Tamajit Pain State-owned Shipping Corporation of India (SCI) is keen to forge an alliance with Coal India Ltd (CIL) for transporting coal. The company hopes to have the JV unit with Coal India Ltd and it is likely to be a 50:50 partnership, according to SCI chairman and managing director S. Hajara. SCI had already inked a JV with SAIL for acquisition of Panamax bulk carriers. The joint venture will look into handling CIL’s coal import requirements. Meanwhile, CIL’s tender for import of coal would likely be issued after the initial public offering gets over in November, according to its chairman Partha S. Bhattacharyya. “We will finalise the import tenders only after the IPO. We will issue the tenders definitely this year. How much would be imported would be finalised only during that time,” he said. According to senior officials in the company, the coal major will import around 6 million tons (mt) of coal this year and around 4 mt will be earmarked for NTPC Ltd. Meanwhile, the government has approved selling its 10 percent stake in SCI and allowed it to raise 10 percent fresh equity, paving the way for `1300-crore public issue that is likely to hit markets by December. After the issue government holding in SCI will come down from 80.12 percent to 63.75 percent. The timeline for the IPO will be drawn up in consultation with the shipping and divestment ministries and the funds generated will be part-utilised for SCI's acquisitions. SCI has 28 vessels on order and around 30 more vessels are to be ordered. The last vessel in the series is expected to be delivered by end-October 2010. With addition of this vessel, SCI's fleet strength will go up to 75. Coal India's IPO, the largest in the country's history, was subscribed more than 15 times by close on October 21, with most bids at the top end of the 225 to 245 rupees price range. The four-day initial public offer of Coal India Ltd (CIL) made history by generating bids worth `2,35,290 crore. It is expected fetch the government over `15,000 crore, the largest sum ever garnered in India through a share sale. The IPO, which had a price band of `225-245 per share, generated total demand for over 960.36 crore shares, though only 63.16 crore equities were on offer. Individual investors and Coal India staff will get a 5 percent discount on the offer price. At this price, Kolkata-based Coal India, which accounts for nearly 80 percent of coal output in Asia's third-largest economy and is the world's largest coal miner, will be worth $35 billion, ranking it seventh among India's listed firms. The government sold 631.6 million shares in the IPO, which received robust response from investors seeking exposure to an economy growing at 8.5 percent. The institutional order book was heavily oversubscribed, with orders worth $27 billion from foreign investors. Those funds poured in on top of record flows from overseas into Indian stocks this year that recently pushed the rupee to a 25-month high. Coal India's IPO will surpass Reliance Power's $3-billion listing in 2008 as India's largest new issue, and comes to market amid a flurry of big deals in Asia. A dominant position in a country that is heavily reliant on coal-fired power and a valuation considered attractive relative to peers has made Coal India a near must-own for investors. Demand for coal is forecast to grow at 11 percent a year in India, which aims to halve its peak-hour power deficit of nearly 14 percent over the next two years and triple its generation capacity over the next decade. Coal India expects profits to rise by 25 percent this fiscal year, helped by rising demand, and has set aside $1.2 billion for overseas acquisitions in the year to March 2011. It is currently evaluating proposals to buy stakes in coal firms in the US, Australia and Indonesia. Local and foreign brokerages estimated that Coal India could see upside of roughly 30 percent from its IPO valuation range, given its lower earnings volatility, a large undeveloped resource base and potential to increase prices. Morgan Stanley, Citigroup, Kotak Mahindra Capital, Enam Securities, Deutsche Bank and Bank of America-Merrill Lynch are managers on the offer. The government has sold 10 percent of its stake in the world's largest coal producer through the public offer. Prior to the IPO, CIL was a fully government-owned entity. CIL is the largest coal producer in the world, with 64 billion tons of reserves as of April 2010. However, CIL will not receive any proceeds from the offer and all proceeds will go to the selling shareholder (GoI). Post issue the government’s stake will come down to 89.99 percent. COAL INSIGHTS 63 October 2010
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Chief Editor Rakesh Dubey, Tel: +91
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India’s largest coal handling age
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Cover Story INDUSTRIAL GROWTH INDIC
Page 12: Cover Story India, China lead globa
Page 16: Cover Story Beml plans to double tu
Page 20: Cover Story complete longwall minin
Page 23 and 24: coal market fundamentals Coking coa
Page 25 and 26: Feature Competitive bidding: Will i
Page 27 and 28: Feature allotment of captive coal b
Page 29 and 30: Feature Coal ministry puts illegal
Page 31 and 32: Feature Coke shortage may hamper st
Page 33 and 34: Feature How coke making evolved Tho
Page 35 and 36: Feature Cement makers to hike price
Page 37 and 38: Feature increased imports, which is
Page 39 and 40: Feature Forestry clearance delays m
Page 41 and 42: Feature embarked on a massive affor
Page 43 and 44: Feature India misses Sept power gen
Page 45: government Coal ministry firm on pr
Page 49 and 50: INTERNATIONAL Forum seeks Canada-In
Page 51 and 52: INTERNATIONAL UAE 269,462 331,688 1
Page 53 and 54: INTERNATIONAL EIA raises 2010 US co
Page 55 and 56: Expert Speak Heat recovery chinese
Page 57 and 58: Expert Speak Refractory lining work
Page 59 and 60: Expert Speak and in a hard copy for
Page 61: CORPORATE We have already commissio
Page 65 and 66: CORPORATE Banks not tapped for capt
Page 67 and 68: Logistics down rates and increased
Page 69 and 70: Power sector update PROGRAMME AND P
Page 71 and 72: Power sector update CAPACITY ADDITI
Page 73 and 74: Power sector update Northern WESTER
Page 76: SnapShot Chile mine rescue - a marv
Page 80: Snap Shot It was finalised that the
Page 84: E-Auction data Month Details of e-A
Page 88 and 89: All India coal data - August 2010 N
Page 90: port DATA Major Ports Through Which
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India's largest coal handling agency - Mjunction

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