BHEL has signed an MoU with PT Star Vyobros, Indonesia for setting up a 200 MW coal fired power plant in Sulawesi region in Indonesia, Bhel said in a statement
Rio Tinto today launched a new phase of its industry-leading Mine of the Future™ technology and innovation programme that is driving greater value by optimising the performance of key international copper and coal operations.
The Processing Excellence Centre (PEC) in Brisbane, Australia is a world-first, state-of-the-art facility that enhances monitoring and operational performance by examining in real time processing data from seven Rio Tinto operations spread across the globe.
Read more at: http://www.riotinto.com/media/media-releases-237_10054.aspx
The French government has issued a decree allowing it to block foreign takeovers of French firms in “strategic” sectors, throwing up a potential roadblock to General Electric’s $16.9 billion bid for Alstom’s energy assets.
The decree, extending an existing 2005 law relating to the defence and other industries, was published in the official state gazette yesterday and gives the state much-increased powers to block foreign takeovers in the energy, water, transport, telecoms and health sectors.
Read more at: http://www.timesofmalta.com/articles/view/20140516/business-news/France-takes-new-powers-to-block-foreign-takeovers.519240
The Indonesia-based trader said one of its mines cut production of 4,200 kcal/kg GAR and has not done any deals for the grade recently. Offer prices for Supramax cargoes of 4,200 kcal/kg GAR were at $37-37.50/mt FOB, he said, adding a Supramax cargo of blended 5,000 kcal/kg GAR for June loading was reportedly sold at $56.50/mt FOB to an Indian buyer. He also said there has been good buying interest from India for 4,600 kcal/kg GAR, which is being offered at $48.85/mt FOB for a geared Supramax cargo loading in June.
Read more at: http://www.platts.com/latest-news/coal/singapore/indonesian-thermal-coal-prices-steady-on-fat-26790467
MOSCOW May 13 (Reuters) – Russia’s Mechel OAO is in talks with China’s Baosteel and South Korea’s Posco on selling a stake in a unit that has a licence to develop the Elga coal project in Russia, Vedomosti daily reported on Tuesday.
Russian President Vladimir Putin, in response to Western sanctions over Moscow’s involvement in the Ukraine crisis, has urged Russian businesses to turn to Asia for financing and partnerships.
Read more at: http://af.reuters.com/article/commoditiesNews/idAFL6N0NZ0W820140513
Add a fifth state to Tesla’s bidding war for its battery “Gigafactory,” which it says will create 6,500 jobs and investment of up to $5 billion.
California joins Nevada, Arizona, Texas and New Mexico. California is home to Tesla’s headquarters and electric car plant, but Tesla has been looking elsewhere to locate its giant plant for creating lithium-ion batteries. CEO Elon Musk, however, says he’s reconsidered.
Read more at: http://www.usatoday.com/story/money/cars/2014/05/10/tesla-gigafactory-california/8918531/
France’s economy minister Arnaud Montebourg flew to Berlin on Friday to urge Siemens to make a counter bid for the energy division of Alstom and keep the business out of the hands of its US suitor, General Electric.
The visit is another desperate bid by François Hollande’s Socialist government to prevent GE from acquiring almost three quarters of the French industrial group. Montebourg’s office confirmed he and his counterpart Sigmar Gabriel would talk about a range of issues, including Alstom.
Read more at: http://www.theguardian.com/business/2014/may/09/france-courts-siemens-prevent-ge-takeover
Hydro Quebec recorded a record profit of $2.9 billion in fiscal 2013, due to a combination of increased revenues from outside of Quebec and reduced costs, the Crown Corporation announced Friday.
The energy giant announced revenues of $12.9 billion, an increase of $745 million from one year prior.
Hydro Quebec attained those results thanks partially to an increase of $254 million in exports and a reduction of $122 million in electricity purchases from Rio Tinto Alcan.
Read more: http://montreal.ctvnews.ca/hydro-quebec-announces-record-results-for-2013-1.1814588#ixzz31JWSyO4X
PARIS, May 9 (Reuters) – France wants state-controlled nuclear group Areva to take over Alstom’s offshore wind turbine unit if General Electric’s bid for Alstom succeeds, a French paper reported on Friday.
Areva and Alstom both produce offshore wind turbines and are part of different consortia to build 3,000 megawatts of wind power off the French coast in coming years.
Read more at: http://www.reuters.com/article/2014/05/09/france-windfarm-areva-idUSL6N0NV2FT20140509
(Reuters) – Toshiba Corp will offer to buy Alstom’s power grid business for “several hundred billion yen” if General Electric completes its planned purchase of Alstom’s energy business, the Nikkei newspaper reported.
Read more at: http://www.reuters.com/article/2014/05/07/us-alstom-offer-idUSBREA460VA20140507
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