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Wednesday, 18 August 10
MADHUCON TO START MINING AT SUMATRA BLOCK IN 2-3 MONTHS
DNA India reported that, Hyderabad-based Madhucon Projects is set to begin mining at one of its coal blocks in Indonesia in 2-3 months, said S Vaikunthanathan, director of finance. The mine, located in south Sumatra, has reserves of 900 million tonne and is spread over 8,650 hectare.
“We have got all the legal clearances and have just begun construction of the jetty,” Vaikunthanathan said.
Though the company has so far acquired only 650-700 hectare, it will begin mining by November. “We will produce 4-5 lakh tonne this year and 1-1.5 million tonne next year,” he said. Madhucon has so far spent about Rs125 crore on the mine and will spend a total of Rs100-150 crore this fiscal.
The company bagged the greenfield block in 2008 for a concession period of 30 years and will pay 11.5% of revenues as royalty to the Indonesian government.
Madhucon has one other coal mine in Indonesia for which it is awaiting legal clearances.
“We will use some coal from the Sumatra block for our power project,” Vaikunthanathan said. The first phase of Madhucon’s 1,920mw project at Tamminapatnam in Andhra Pradesh will be commissioned in March.
“We have not yet estimated the reserves at the Jakarta mine and will begin mining there in three years,” he added. Madhucon had signed the memorandum of understanding (MoU) for the project last year.
Madhucon Projects had earlier this year transferred the two mines, the power project and its four toll roads to its subsidiary Madhucon Infra, which will be listed next year.
Of its four road projects, two are operational.
Source: DNA India
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Wednesday, 04 August 10
MALAYSIA'S AGATE GROUP TIES UP WITH INDIA'S ECOGREEN TO DEVELOP COAL BUSINESS
COALspot.com: "Malaysian based AGATE Group had entered into an agreement with India's EcoGreen to jointly develop coal business in India ...
Wednesday, 04 August 10
ADARO PRODUCED 21.62 MILLION TONS OF COAL IN 1H 2010
COALspot.com: “Adaro Energy’s production volume during the second quarter of 2010 was 10.26 million tones and for the first half of 2010 ...
Wednesday, 04 August 10
CIL TO TAKE UP NEW PROJECT TO MEET INCREASED DEMAND OF COAL
As part of Annual Plan 2010-11, Planning Commission has projected all India demand of coal 656.31 Million Tonnes against which the indigenous supply ...
Tuesday, 03 August 10
INDONESIA CONSIDERING RUPIAH DENOMINATION
The jakarta post reportd that, the central bank is deliberating a potential Rupiah denomination in light of decreasing exchange rate valuations agai ...
Monday, 02 August 10
DRY BULK MARKET NEEDS TO FIND ADDITIONAL SUPPORT IN AUGUST
The dry bulk market ended another week of rebounding, posting on Friday its 11th straight rise. Still, as analysts point out the rate of this rise h ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Posco Energy - South Korea
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- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
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- ICICI Bank Limited - India
- Parliament of New Zealand
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- Maheswari Brothers Coal Limited - India
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- Pendopo Energi Batubara - Indonesia
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- Sojitz Corporation - Japan
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- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
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- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
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- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
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- Meralco Power Generation, Philippines
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- Power Finance Corporation Ltd., India
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- Planning Commission, India
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- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
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- Electricity Generating Authority of Thailand
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- Oldendorff Carriers - Singapore
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- Trasteel International SA, Italy
- Economic Council, Georgia
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- Bahari Cakrawala Sebuku - Indonesia
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