Author: iiicorpblog

IIICorp opportunity of the week: GMH seeks funding for proposed USD 800m Tamil Nadu-based TPP

General Mediterranean Holding (GMH) is looking for financiers for its proposed 1030MW merchant thermal power plant at Kattuppalli Village in Thirvallur district in Tamil Nadu (TN), according to Justin Paul, the President Technical at Chennai Power Generation Limited (CPGL), the Indian subsidiary of the Luxembourg-based company.

“The project is awaiting environment clearance, land acquisition, and fuel-supply agreement for the power plant and we will look at financial closure of the plant in the first quarter of 2018,” Paul told this news service.

The company president did not provide a timeline when the EPC tenders would be invited but said that the bids would be invited soon after the environment clearances and fuel supply agreements are in place.

The 1030MW power project had experienced difficulties when North Chennai Power Company Limited refused to spare 70 acres of land to CPGL for the plant due to a reported overlap in location of the two companies’ power plants. The terms of reference (ToR) for the project were initially issued in 2009, however these expired in 2013 due to the inability to resolve the land issue. A fresh application to issue the ToR was submitted in September 2015, which was approved in early June this year.

The total project investment (TPI) comprises USD 788.5m (Rs. 5245.6 crore) and the facility will source coal from Indonesia and Australia. It will consist of two 515MW steam turbine generator (STG) sets and two pulverized coal-fired subcritical boilers. The balance of plant (BoP) package will comprise the coal and ash handling plant, water treatment plant, desalination plant, compressed air system, electrical controls, instrumentation and control, and chimney, all of which cost USD 639.3m.

The total plant area will cover about 319 acres of land, including an ash pond area, along with 23 acres within Coastal Regulation Zone (CRZ) area that will be utilized as corridor for sea water pipeline and for coal conveying at a total cost of USD 27.5m.

There will also be a requirement for the installation of electrostatic precipitators (ESPs) and flue gahis weeks desulfurization (FGD) systems however these will be decided based on the fuel supply agreement signed.

“If required, we will invite separate bids for the construction of the FGD plant,” said Paul.

 

This week’s featured opportunity is just one example of thousands of projects, deals and opportunities IIICorp is reporting on before anyone else. Our model of early-stage actionable intelligence means our subscribers have access to the deal flow before it hits the public tender. Visit http://www.iiicorp.com for more information on our solution for your company or financial institution.

IIICorp Opportunity of the Week: Andhra Pradesh in talks with Chinese firms for partnership in its proposed USD 16bn hydrocarbon complex

The State Government of Andhra Pradesh(AP) is in talks with Chinese partners for a potential partnership to develop its proposed USD 16bn cracker complex in the port town of Machilipatnam.

“We had a Chinese delegation representing a potential consortium partner inspecting the land proposed for the Petroleum, Chemicals and Petrochemicals Investment Region (PCPIR),” said CHSS Prasad, Chief General Manager (Projects), Andhra Pradesh Industrial Infrastructure Corporation (APIIC). APIIC is the nodal agency implementing the project along with Vishakhaptnam Development Authority and the industries department of the AP state government. He however declined to share further details of the potential partner, citing confidentiality.

The plan is to put together a consortium of state-owned oil companies, exploration firm Oil and Natural Gas Corporation Limited (ONGC) along with private global players who have expertise in developing a facility of this magnitude. This news service had earlier reported that Dubai-based Al Kharash Contracting Co was one of those global players that had showed initial interest.

In a cracker complex of this scale, the refinery, or the mother cracker, creates raw material or feedstock for several chemical-making units, where the end-user industries involve polymers and pharmaceuticals, among others. Once completed, this will be India’s largest cracker unit with a capacity of 10 million metric tons per annum (MMTPA).

An industry source said a mother cracker complex of this size will open up opportunities to equipment suppliers from developed markets in the US and Europe. According to a previous working paper published by the Indian Council for Research on International Economic Relations (ICRIER), India currently has three naphtha-based, three gas-based, and one mixed-feed cracker units with a combined ethylene capacity of 3.3MMTPA.

The major feedstock used in petrochemical units is naphtha and natural gas (propane and butane), while the major intermediate products produced in the country are ethylene, propylene, butadiene, benzene, toluene and xylene, which are used in a variety of industries.

 

Each week, we share one of the thousands of opportunities, deals, and projects in our database. Our global team of journalists, engineers, analysts and researchers constantly publish new stories using innovative model of actionable intelligence, presented in a comprehensive database of past and upcoming projects, tenders, partnerships, trade finance and M&A opportunities. Subscribers gain access to a proprietary data set containing the terms, values, and contacts on deals updated in real time. 

Visit our website to find out how IIICorp can help your company succeed in the world’s fastest-growing markets. 

IIICorp Featured Opportunity of the Week – China Three Gorges, SGCC in the frame to buy stakes in Brazil’s Santo Antônio do Jari hydropower project

Odebrecht Energia, a unit of Brazilian construction major Odebrecht SAGrupo Cemig, and Construtora Andrade Gutierrez could be negotiating the sale of their respective stakes [totaling 51% at about USD 2.6bn (CNY 17bn)], in the Santo Antônio do Jari hydropower project.China Three Gorges Corporation (CTG) and State Grid Corporation of China (SGCC) are two of the candidates to pick up the stakes.

The Santo Antônio do Jari project is built on the Madeira River in Rondônia. It has an installed capacity of 3568MW, when all the turbines will be installed, which is estimated to be around November 2016.

“The Brazilian entities reach out to CTG and SGCC, and expect to sell the stakes to Chinese corporations. They are also in talks with the companies from other countries,” said Li Chang, a source from China’s Economic and Commercial Counsellor in Brazil, a part of the People’s Republic’s Ministry of Commerce.

“This deal is in process. But they decline to share more information with us,” Li added.

 

IIICorp subscribers have access to nearly 20,000 opportunities, deals and projects like the one above. Our network gives us access to the project managers, design firms and advisors who provide the proprietary information that sets us apart– enabling our subscribers to access upcoming projects, deals, opportunities and regulatory changes that ICorp reports on before any other source. For more information on IIICorp, contact us here.

Upcoming ICorp Events and Conferences

The ICorp team have been on the road recently, from Singapore, to Miami, to Rome, to Philadelphia. Our founder and CEO, Charlie Welsh, had the opportunity to speak as a panelist at the Association of Trade & Forfaiting in the Americas annual gathering (pictured below). We also recently attended the Special Libraries Association Conference and TXF Conference at the Four Seasons Rome. These have provided valuable forums  for sharing insight with our peers and colleagues. We’re proud to have the opportunity to showcase our product, the world’s first foreign industrial equipment supplier funding origination platform.

afta-1

ICorp will be attending and exhibiting at several conferences, expos and events in the coming weeks, so please be sure to visit our blog, homepage and Linkedin page for regular updates.

In the next month, find us at:

June 23-26      American Library Association Conference – Orlando, Florida

July 13-15         Business Librarians Association Conference – London, UK

July 16-19        American Association of Law Libraries Annual Conference – Chicago, Illinois

Are you attending or exhibiting at any of these? Be sure to connect with us on Linkedin or send us your details via our webform.

 

 

Obama/Modi meeting shows signs of promise for US suppliers in the nuclear space

Tuesday’s meeting between Indian Prime Minister Narendra Modi and President Obama resulted in milestone agreements on climate change, nuclear power and national security. US and Japanese energy equipment suppliers have been lobbying Modi’s government for reform in the sector, and are undoubtedly optimistic following the outcome of this week’s meeting between the two heads of states. Amendments to India’s nuclear power laws would represent a big win for various US equipment/tech suppliers in the nuclear space, including Curtiss-Wright and Westinghouseobama.

ICorp published a story prior to Tuesday’s meeting, indicating these two major players’ current dealings within the region and the potential for major opportunities in the Indian energy sector:

Curtiss-Wright Corporation is slated to win pump supply deals in India worth more than USD 300m once Westinghouse Electric Corporation finalizes negotiations to build six AP1000 nuclear reactors across the country.

Westinghouse is a subsidiary of Toshiba Corporation. In March, the Pittsburgh, Pennsylvania-based company’s CEO told Reuters he expects to sign a deal in June to build six AP1000 nuclear reactors across India.

However, it remains unclear as to whether Westinghouse will land the reactor supply deals as early as June. The company and its suppliers are hesitant to do business in India because the country passed a law in 2010 that might render equipment suppliers accountable for nuclear power plant accidents, not just the facilities’ operators. The law would have to be altered or nixed altogether before Westinghouse is likely to do business in the country, according to Curtiss-Wright director of investor relations Jim Ryan.

“That law is the reason why India has built less nuclear facilities than China,” he said.

 

For the full story, and access to thousands of other proprietary reports in our database, sign up for a free trial at https://www.iiicorp.com/ContactUs

IIICorp joins in the discussion at 19th Annual AFTA Conference in Miami

Discussion and debate at an Association of Trade & Forfaiting in the Americas event in Miami last week touched upon the latest developments facing the trade finance and credit insurance industries. Conference attendees addressed the global economic outlook, the unique challenges facing the credit insurance industry today, newly-emerging forms of trade receivables securitization, new platforms for exchange between corporates and financial institutions, the difficulties facing commodity companies and traders, the changing trade finance legal landscape in the Americas, and the expanding global roles of development finance institutions Overseas Private Investment Corporation (OPIC) and Banco Latinoamericano de Comercio Exterior (Bladex).

The event attendees list included trade insurers, receivables finance creditors, development finance institution members, export credit agencies such as the Export Development Bank of Canada (EDC), legal advisers to companies engaged in international trade and data services companies offering trade players the power to make informed decisions.

For more information on IIICorp’s origination intelligence for Trade Finance, visit https://www.iiicorp.com/TradeFinance

IIICorp sponsors ABLD-APBSLG-EBSLG Conference in Singapore

IIICorp is a premium business intelligence product for industrial manufacturers, technology providers and trade finance, but it is also an exceptional resource for academic research. Our Global Sales Director, Greg Greenberg (pictured) is representing IIICorp at the Conference of members of ABLD (Academic Business Library Directors), APBSLG (Asia Pacific Business School Librarians’ Group) and EBSLG (European Business Schools Librarians’ Group) in Singapore. IIICorp is proud to sponsor this event, taking place over the next two days.

IIICorp Global Sales Director Greg Greenberg, with representatives from Oxford Said Business School and INSEAD Asia

IIICorp Global Sales Director Greg Greenberg, with representatives from Oxford Said Business School and INSEAD Asia

To successfully emulate winning strategies, students in the most competitive business programs need access to clear, actionable intelligence before it becomes public knowledge. By using IIICorp as an academic research tool, students are able to fill the gap left by traditional databases, enabling them to make real business decisions in real time.

We have received overwhelmingly positive feedback from our customers already using IIICorp for academic purposes, whose students have access to our proprietary content, contact list, analytics and global team of industry experts.

To learn more about IIICorp and request a trial for your academic institution, visit our website.

Exclusive to IIICorp: Japanese firm IBIDEN Co Ltd shows interest in BHEL’s emissions contract

ibidenTokyo-based IBIDEN Co Ltd is among several companies, including Chinese firms, that have submitted their expressions of interest (EOI) to state-owned Bharat Heavy Electricals Limited (BHEL) for a proposal to design and engineer the latter’s emission control systems for power plants and its integration with the boilers on a project-to-project basis. A BHEL official also told IIICORP that the EOI is applicable to all BHEL power plants across the country. According to its website, the power major has 20,000 MW installed capacity and going by IIICORP metrics, the contract could be worth upwards of USD 400m. The EOI comes in the wake of recent emission norms laid down by the Indian Ministry of Environment, Forests and Climate Change (MoEFCC).

IBIDEN Porzellanfabrik Frauenthal GmbH, a subsidiary firm majority owned by IBIDEN Co Ltd, manufactures the CERAM brand of catalyst and industrial honeycombs at its facility in Frauental, Austria. CERAM has developed into a global supplier of catalysts and industrial ceramics and currently has customers in more than 40 countries with over 400 employees. In the course of its international expansion, the company has set up subsidiaries in the United States and South Korea. The introduction of progressive environmental legislation around the world is a key driver of the CERAM´s business activities, says its website. The company’s environmental management system ensures responsible use of natural resources and systematically reduce its wastewater, solid waste streams, and atmospheric emissions.

IIICorp subscribers have access to actionable intelligence before it becomes public. Visit our website to register for a free trial for your company.

Featured Story of the Week: SGCC bid for Abengoa’s Brazilian assets faces delays arising from deal’s complex, politically-sensitive nature

State Grid Corporation of China’s (SGCC) planned purchase of Abengoa SA’s Brazilian power transmission operations is facing ongoing delays as a result of the high level of complexity it has encountered in the asset evaluation process. That’s according to Xiao Bin (肖斌), an official at theState Grid Brazil Holding SA (国家电网巴西控股公司), the local subsidiary of SGCC, who made reference to the highly diverse nature of the assets in question and their complicated financial position.

“The acquisition is still in talks and there is n0_1_21st_Century_Silk_Road_Map_thumb_1460933781855o certain time for how long it will take,” Xiao said. He added that a formal proposal has yet to be made.

SGCC’s confusion is shared by industry analysts who have also had difficulty estimating the value of Abengoa’s Brazilian assets, which comprises facilities that are operational and reneue-generating as well as ones that are being developed. In the latter category, Abengoa has about 6,000km of transmission lines under construction that will require the purchaser to take on billions of dollars of future investments.

The Brazilian government has indicated that it would expect a large and well-capitalized entity like SGCC to acquire all of Abengoa’s Brazilian assets as a package.

This news service previously reported, citing a SGCC source, that this transaction was a politically sensitive one and that it should not be viewed as a simple sale and purchase agreement between two companies. The state-owned Chinese company, which has invested USD 2.58bn (CNY 16.83bn) in Brazil’s power transmission sector since 2010, believes that the expertise it has developed via the construction of China’s vast ultra-high-voltage projects over the past two years gave it a competitive advantage over rival bidders.

Financially-distressed Abengoa, which filed for bankruptcy protection in November 2015, is Brazil’s largest non-state owned power transmission operator. Its Brazilian operations have total net debts of USD 825m (CNY 5.4bn), of which more than USD 218m (CNY ) are owed to local equipment suppliers in the country, according to the electricity industry association Abinee.

For similar stories and access to early-stage actionable intelligence on projects happening in the energy, water and waste, and environmental sectors in emerging markets, contact us at https://www.iiicorp.com/ContactUs/?ContactUs

Increased optimism on Chinese infrastructure investment

It is no secret that a period of volatility in China’s stock market this year gave many cause for concern. Since then, a growing debate about the health of the country’s economy has on occasion omitted encouraging signs of stability. In particular, critical clean power, environmental and water infrastructure projects have largely proceeded unhindered thanks to a central government stimulus effort that is beginning again to pick up steam.

Balu Balakrishnan, CEO and Director of Power Integrations, Inc recently offered an optimistic take on the promise of a renewed increase in China’s infrastructure spending after he was asked by an analyst about the government’s appetite for spending:

Evan Wang – Stifel, Nicolaus & Co., Inc. “I was wondering if you can give us some comparison against what your expectation earlier in the year that the Chinese Government might be resuming its infrastructure spending as part of the stimulus program and how is that looking now for 2016?”

Balu Balakrishnan – President, Chief Executive Officer & Director “It is actually looking very good. They have resumed investment in infrastructure.There are number of new high-voltage DC transition lines being installed in China. In addition to that, they are converting their public transportation, which is buses, into electric buses starting from Beijing and Shanghai where they have the most pollution, and we have actually a significant portion of that business that we have won on and we expect that to contribute to our growth this year and next year.”

For access to our extensive database of intelligence on Chinese project opportunities, contact us for a trial.