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Thursday, 02 September 10
NALCO OPEN TO EQUITY DILUTION IN $3.9 BN PROJECT IN INDONESIA
Business-Standard reported that, state-owned Nalco today said it is considering selling stake in its $3.9 billion (over Rs 18,000 crore) aluminium project in Indonesia in lieu of acquiring equity in coal mines in the island country.
"We are open to selling stake in the aluminium project to the firm, which offers us its coal mines. In return, we will acquire stake in the coal mine offered to us," Nalco Director Finance B L Bagra told PTI.
Nalco holds 76 per cent stake in the Indonesian project, while RAK Minerals & Metals Investments, a unit of RAK Investment Authority, holds 24 per cent.
"We will always maintain majority stake in the project," he added. The project comprises setting up of a five-lakh -tonne smelter and an integrated 1,250 MW power plant in Indonesia.
The company will import required alumina to run the smelter from its India operations. The company is looking for captive coal block to run the plant and had yesterday invited companies interested in selling coal mines.
Nalco is looking for a coal mine with an estimated reserves of 500 million tonnes and an annual production capacity of 10 million tonnes starting from 2014 for running the project.
There are about 200 coal mines in East Kalimantan province, where the project is proposed, Bagra said.
"Last day for submitting offers to our Expression of Interest is September 30, 2010. We plan to launch financial bids in October-November," he said.
Asked if Nalco's JV partner RAK Minerals could be a possible partner for coal supply to the project, Bagra said, "They are already developing coal deposits there. They can also submit proposal to us. At present, they are our potential partner in the aluminium project."
As per the agreement with Rak Minerals, the UAE-based company will set up infrastructure like railway and port in the island country to cater to the project.
The project was facing regulatory delays and was shifted from earlier proposed site in South Sumatra to East Kalimantan.
Source: Business-Standard
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Monday, 13 September 10
CIL IN TALKS WITH SHIPPING CORP TO FORM JV FOR COAL IMPORTS
Shipping Corporation of India, the largest domestic shipping liner, may form a joint venture with Coal India for coal imports, a top company officia ...
Monday, 13 September 10
FREIGHT MARKETS MAY BE A BIT SOFT THIS WEEK - VISTAAR SINGAPORE
COALspot.com: The freight market continued its upward trend with the BDI almost touching 3000 points. However the uncertainty seems to continue with ...
Friday, 10 September 10
INDONESIAN RAILWAY CONTRACT STILL UP FOR BIDDING - LOGISTICS WEEK
The tender process for a $2.2bn project to build a coal-transporting railway line in Central Kalimantan province, Indonesia, is still underway and n ...
Friday, 10 September 10
WCI INTO CHINA WITH IRON ORE ARE AIMING AROUND $ 20K - FEARNBULK
Handy
The rates are firm in every corner of the world. However it still looks Atlantic/Baltic/Black Sea offer better employment opportunities for ...
Thursday, 09 September 10
INDIANS BALCO TO BUY 50 K OF 3,000 TO 4,500 GAR CALORIFIC VALUE COAL
COALspot.com: Bharat Aluminium Company Limited (BALCO) is a subsidiary of Sterlite Industries (India) Limited and part of Vedanta Resources PLC, a L ...
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- Maharashtra Electricity Regulatory Commission - India
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- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
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- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
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- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
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- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
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- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
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- Bhatia International Limited - India
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
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- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
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- White Energy Company Limited
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- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
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- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
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- Economic Council, Georgia
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- Banpu Public Company Limited - Thailand
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- Antam Resourcindo - Indonesia
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- Xindia Steels Limited - India
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- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
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- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
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- Chamber of Mines of South Africa
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- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
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- Commonwealth Bank - Australia
- McConnell Dowell - Australia
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- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- PTC India Limited - India
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- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
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- Manunggal Multi Energi - Indonesia
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- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
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- Thiess Contractors Indonesia
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- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
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- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
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- Karbindo Abesyapradhi - Indoneisa
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- The University of Queensland
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- Indonesian Coal Mining Association
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- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
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- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
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- Mercator Lines Limited - India
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- Planning Commission, India
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