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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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Thursday, 02 September 10
PLN ASKED TO USE LOCAL COAL
Tempo Interactive reportd that, the Indonesian Mining Association Executive Director, Priyo Pribadi, has called on the state-run electricity company ...
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 p ...
Thursday, 02 September 10
DRY BULK MARKET GAINS MOMENTUM TO INCREASE, WITH CHINA ONCE AGAIN TO THE RESCUE
With predictions from Chinese officials stating that the country’s iron ore imports during 2010 could surpass the record amounts of 2009, the ...
Wednesday, 01 September 10
STC BAGS NTPC ORDER TO SHIP 12 MT COAL
My Digital FC reported that, The State Trading Corporation (STC) has bagged NTPC’s tender to ship 12 million tonnes coal from Ind&sh ...
Wednesday, 01 September 10
JAKARTA TO HOST MAJOR INTERNATIONAL MINING EVENT
COALspot.com: (Press Release) In October 2010, the Indonesian Mining Association (IMA) and the Indonesian Coal Mining Association (APBI) will host t ...
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- Indian Energy Exchange, India
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- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Orica Mining Services - Indonesia
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- Thai Mozambique Logistica
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- Goldman Sachs - Singapore
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- Ministry of Mines - Canada
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- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
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- London Commodity Brokers - England
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
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- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
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- The State Trading Corporation of India Ltd
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- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
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- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
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- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
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- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
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- Holcim Trading Pte Ltd - Singapore
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- Africa Commodities Group - South Africa
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- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
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- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
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- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
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- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
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- Global Coal Blending Company Limited - Australia
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- Pipit Mutiara Jaya. PT, Indonesia
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- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
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