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Friday, 03 September 10
NALCO, INDONESIAN FIRM DIFFER ON COAL SUPPLY TO SMELTER - DNA INDIA
 A few days ago, National Aluminium Company (Nalco) advertised in Indonesian newspapers asking for companies to bid for coal supplies for its 500,000 tonne aluminium smelter in that country. If this is true, then what happened to its deal with MEC Coal, Indonesia?,DNA India reported.
DNA further said in it report, In April this year, Madhu Koneru, executive vice-chairman, MEC Coal, had told DNA that the company has signed a deal with Nalco to supplying 6 million tonne of unwashed coal for Nalco’s 5 lakh tonne aluminium smelter and 1,250 mw power plant. However, with the new advertisement by Nalco, MEC’s role in the project stands on a shaky ground.
In an e-mailed reply, MEC Coal told DNA, “Our agreement with Nalco still stands. Nalco, as a government organisation, is following the proper procedure for large investments and optimisation of infrastructure and resources is being assessed.”
When asked about supplying coal to Nalco’s Indonesian smelter, MEC said, “Yes, MEC plans to supply Nalco with 6 million tonne of coal.”
BL Bagra, director (finance), Nalco, however, has a different story to tell. He said that Nalco has no contract with MEC for coal supplies. “We had a MoU with RAK Minerals and Metals Investments (RMMI), the parent company of MEC Coal. The MoU was for a joint venture for the smelter and power plant. As part of the MoU, the company has an option of picking up 26% stake in the smelter and power plant but nothing was finalised on the coal supply front.” Bagra also said that the MoU nowhere stated that MEC had the right to coal linkages and was signed exclusively for a joint venture in the smelter and power plant.
He said that as a procedural requirement, Nalco had invited all coal miners to bid and MEC continues to be a potential JV partner and bidder for coal supplies. “It will take us 4 years to build the smelter and power plant and we are looking for companies which could build rail, port and other infrastructure by the time our project comes up,” Bagra said.
“MEC is very confident that they will meet all our requirements but we are expecting at least 8-9 companies to take part in the bidding.”
Nalco plans to spend $4 billion on the aluminium smelter and power plant in Indonesia. The firm had signed a Memorandum of Association with the Indonesian government for the smelter in 2008.
The project was supposed to come onstream this year. However, it was marred by procedural delays in Indonesia. Nalco expects to maintain a 2:1 debt to equity ratio for the project.
Source: DNA India (By Shubhashish)
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Monday, 06 September 10
DRY BULK MARKET GAINS 6.05% ON WEEK, BOOSTED BY CAPESIZE VESSELS
The dry bulk market is looking to capitalize last week’s gains of more than 6 percent in this week, as the capesize segment seems to be on a h ...
Sunday, 05 September 10
HARUM ENERGY EYES 7.4 MILION TONS OF COAL OUTPUT IN 2010
Indonesia's coal miner PT Harum Energy Tbk, controlled by Indonesian tycoon Kiki Barki, is eyeing 7.4 million tons of coal production in 2010, a 27 ...
Sunday, 05 September 10
THE FREIGHT MARKET WAS BIT VOLATILE WITH NO CLEAR INDICATION OF THE MARKET - CAPT REDDY
COALsopot.com: The freight market was bit volatile with no clear indication of the market.
However the BDI continued the upward trend mainly due ...
Sunday, 05 September 10
NOROCHCHOLAI POWER PLANT TO BE COMMISSIONED ON JANUARY 1
Daily news reported that, the Norochcholai coal power plant will be commissioned on January 1, 2011 adding 300 megawatts to the national power grid ...
Friday, 03 September 10
BANPU CUTS INDONESIAN HOLDING BUT ITM REMAINS KEY STRATEGIC UNIT - BANGKOK POST
"SET-listed Banpu Plc, Asean's largest coal miner, yesterday announced the sale of an 8.72% stake in its listed coalmining holding company in ...
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- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- PTC India Limited - India
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
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