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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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Tuesday, 31 August 10
CIL MAY SET UP POWER PLANT TO UTILIZE EXCESS COAL
The Economic Times reported that, the world's largest coal producer Coal India Ltd (CIL) said it may consider setting up power plants in the countr ...
Tuesday, 31 August 10
NALCO SEEKS STAKES IN INDONESIAN COAL MINES
Economic Times reported that, National Aluminium Co. Ltd said on Tuesday it wants to buy stakes in Indonesian coal mines to secure supplies fo ...
Tuesday, 31 August 10
CAPESIZE RATES ON VOLATILE MOVEMENT
With Monday a holiday for London’s stockmarket (Bank Holiday), the dry bulk market took a breather before presenting ship owners and charterer ...
Monday, 30 August 10
MUNDRA PORT BEGINS OPERATIONS AT NEW TERMINAL IN GUJARAT
Economic Times reported that, Adani group firm Mundra Port has commenced operations at its 20-million tonnes port at Dahej in Gujarat, the company s ...
Monday, 30 August 10
DRY BULK MARKET STABILIZES, ALBEIT AT A FALLING NOTE
The dry bulk market’s leading benchmark, the Baltic Dry Index (BDI) ended the week at 2712 points, a marginal weekly loss of 1.6% or 44 points ...
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- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Economic Council, Georgia
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
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