Monday, June 1, 2020

Adani Group News

India's Thermal Coal Imports Could Rise 10 pct in 2019

File Image: AdobeStock / © Eremeychuk

India's thermal coal imports could rise by about 10 percent in 2019 due to rail transport problems and other logistical bottlenecks, an executive at the country's largest coal trader Adani Enterprises said on Tuesday.Thermal coal imports rose in 2018 after two years of decline, despite moves by Prime Minister Narendra Modi’s government to cut the country's imports in a bid to reduce the trade deficit.Rajendra Singh, chief operating officer for coal trading at Adani Enterprises…

Total, India's Adani Join Hands in LNG Sector

Image: Total

French energy major Total and Adani Group have signed an agreement to jointly develop multi energy offers to the Indian energy market. This cooperation includes Liquefied Natural Gas (LNG) and Fuel Retail.The Adani Group is an Indian private conglomerate active in 50 countries and specialized in commodities trading, port infrastructures and logistics, as well as energy production and distribution.This strategic partnership between Total and Adani Group will allow to create a major footprint in LNG business and a new retail network of 1…

Adani Group, Total Partner for LNG projects

Indian resources conglomerate Adani Group and French energy giant Total SA have signed a deal to expand into India's liquefied natural gas (LNG) and fuel retail market, the companies said on Wednesday.The joint venture is aimed at a phase-wide rollout of 1,500 service stations in over 10 years on the country's main roads, including highways and intercity connections.The partnership seeks to develop regasification terminals, including Dharma LNG, which is on the east coast of India.(Reporting by Mekhla Raina in Bengaluru, Editing by Sherry Jacob-Phillips)

Indian Renewable Firms Plan $2.5 Bln in Offshore Dollar Bond Issues

© Sergiy Serdyuk / Adobe Stock

Four Indian renewable power producers are planning to raise up to $2.5 billion via dollar bonds offshore because of caution among domestic lenders, banking sources said. In addition to the four solar and wind power firms, a fifth company that invests in renewable projects, Adani Group, has raised $250 million via a loan but has yet to publicly announce the borrowing, the sources told Reuters. A source working with one of the bond issues said foreign…

IOC Eyes GSPC's Stake in Mundra LNG terminal

Image by Whessoe Technology Centre

Indian Oil Corp. Ltd (IOC) wants to buy debt-laden Gujarat State Petroleum Corp.’s (GSPC) entire stake in the in the under-construction Rs 4,500 crore ($672 million) GSPC-Adani liquefied natural gas (LNG) terminal in Mundra, Gujarat, reports Livemint. GSPC is looking to exit the 5 million tonnes a year LNG import terminal project, which is likely to be completed by mid-2017, says sources. GSPC LNG Ltd, a unit of GSPC, holds a 50% stake in the project with the Adani Group owning 25%; the remaining 25% has been earmarked to be sold to a strategic partner.

APSEZ Buys Abbot Point Bulkcoal

Adani Group - Karan Adani. Photo Adani Group

Abbot Point Operations Pty Ltd (APO), an Australian subsidiary of Adani Ports and Special Economic Zone Limited has entered into an agreement to acquire ownership of Abbot Point Bulkcoal Pty Ltd (APB), an Australian registered company performing the operations and maintenance activities of Abbot Point Coal Terminal in Queensland, Australia. Under the said agreement, APO acquires 100% of shares in APB from Glencore Coal Queensland Pty Limited upon receiving certain approvals.

ABB Connects Indian Grid with Largest Solar Plants

Adani’s 648 MW solar power plant Photo ABB

Five substations to link a new 648-megawatt solar project, which will account for about 10 percent of India’s solar power, to the national grid. ABB has successfully commissioned five substations to integrate a 648-megawatt (MW) solar project at Kamuthi  in the southern Indian state of Tamil Nadu to the national transmission grid. The project was awarded by independent power producer (IPP) Adani Group in 2015, and completed on schedule. The solar photovoltaic project – made up of five plants in a single location – is the largest of its kind in the world.

India's Adani Eyes SunEdison's Indian Solar Assets

Indian conglomerate Adani Group is considering a bid for SunEdison's Indian solar assets, the chief executive officer for the group's renewable energy arm said on Friday.   Jayant Parimal, Adani Green Energy Ltd's CEO, told reporters in Mumbai that his company was evaluating whether to bid for SunEdison's solar projects.   Investment banks appointed by U.S.-based SunEdison had approached Adani to gauge its interest in the assets, Parimal said.   (Reporting by Promit Mukherjee; Writing by Tommy Wilkes)

Adani Enterprises Wins Global CSR Award 2016

Uma Shankar, Adani Enterprises Ltd received the award presented by Meenakshi Lekhi, Hon’ble Member of Parliament in the Lok Sabha Photo Adani Enterprises

Adani Enterprises Ltd, the flagship company of the Adani Group, a global integrated infrastructure player, was today awarded the prestigious “Energy and Environment Foundation Global CSR Awards 2016” in the Platinum category. The Award was presented on the final day of the 6th World PetroCoal Congress - 2016 held in New Delhi on 17th February, 2016. Mr. Uma Shankar, Adani Enterprises Ltd received the award that was presented by Ms. Meenakshi Lekhi, Hon’ble Member of Parliament in the Lok Sabha amidst high profile delegates. Present in the audience. Mr.

Australia Reveals Barrier Reef Protections

UNESCO's World Heritage Committee is due to decide in June whether to put the reef on its "in danger" list because its corals have been badly damaged and some of its animal species, including dugong and large green turtles, are threatened. Such a listing could lead to restrictions on shipping and port expansions that could hit Australia's trade in commodities and energy. Environment Minister Greg Hunt issued proposed changes to regulations to carry out the ban…

India Coal Output Might End Disappointing Performance

One of the most common assumptions among coal watchers is that India's rising demand will translate into increasing imports, thus providing one of the few bright spots for a beleaguered industry. While there is little doubt about the bullish demand outlook for India, the belief that imports will have to rise is predicated on the view that domestic coal output will continue to disappoint. If history is a guide, then this is a safe bet, with state-controlled…

Adani Group Revamps Businesses

Adani Ports and Special Economic Zone Limited

Adani Enterprises Limited together with its subsidiaries Adani Ports and Special Economic Zone Limited (“APSEZ”) and Adani Power Limited (“APL”) today announced a composite Scheme of Arrangement (“Scheme”) for the demerger of the ‘Port Undertaking’ of AEL into APSEZ and demerger of the ‘Power Undertaking’ of AEL into APL and the emerging simplification of the corporate structure of the Adani Group. The Scheme also involves the demerger of the ‘Transmission Undertaking’ of AEL into Adani Transmissions Limited (“ATL”)…

India to Open Coal to Commercial Mining Firms

India expects to hold auctions for private firms to mine and sell coal in the near future, the country's coal and power minister Piyush Goyal said but first wants to deal with mines that are directly linked to plants that use the fuel. To boost output and cut imports, Prime Minister Narendra Modi passed an executive decree in December to open up India's nationalised coal industry. Bids have been invited from firms that use coal for their own power, steel or cement plants.

India's Coal Imports Causing Port Congestion

Congestion at Paradip expected to ease in a week if rains stop; higher-than-usual congestion at some other ports too. Indian power and steel companies are importing shiploads of coal due to a severe shortage at home, leading to heavy congestion in one of the country's busiest ports that now has twice the number of vessels waiting than its available berths. The over-crowding at Paradip port in eastern Odisha could derail India's efforts to prevent a…

Adani’s investment in Queensland moves ahead

Adani Group Chairman, Gautam Adani

Today’s announcement by the Queensland Government on Adani’s Carmichael Coal Mine and Rail Project  recommending the environmental approval is a significant step towards opening up the Galilee Basin and providing extensive economic benefits to the people of Queensland. As numerous government strategies have underlined, development of the Galilee Basin is vital to Queensland and Australia’s economic growth. “We welcome the decision of the Queensland Government and this allows us to move to the next stage of the project…