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Friday, 15 May 09
INDIKA EXPECTS TO INCREASE COAL PRODUCTION BY 12.68% IN 2010 - THE JAKARTA POST
.jpg) ENERGY and infrastructure company PT Indika Energy, the parent company of Indonesia's third largest coal producer PT Kideco Jaya Agung, expects its coal production to grow by 12.68 percent next year.
Indika plans to produce as much as 28 million tons of coal in 2010, up from 24.85 million tons targeted this year, chief financial officer Azis Armand told reporters Monday.
He said the production increase would come both from Kideco and from mining company PT Petrosea, which is in the process of acquisition by Indika. Azis said Kideco was expected to produce as much as 26 million tons of coal in 2010, up from 24 million tons of coal production targeted this year.
Indika owns 46 percent of Kideco, a holder of a first-generation Coal Contract of Work, locally known as PKP2B, valid through to 2023. Kideco owns 50,400 hectares of coal concessions in East Kalimantan. It produced 22 million tons of coal in 2008.
Azis said that Indika also expected to start receiving as much as 850,000 tons of additional coal from Petrosea's subsidiary PT Santan Batubara this year. Production is expected to increase to two million tons in 2010, he added.
On April 14, Indika signed a Conditional Sale and Purchase Agreement (CSPA) to acquire a 81.95 percent stake in Petrosea from its majority shareholder Clough International Singapore Pte Ltd for US$83.8 million.
"Close of transaction *for the acquisition* is targeted for early June."
In December last year, Indika also acquired coal mining rights to 13 sites, locally known as KP, in Melawi, West Kalimantan. These KPs have a total concession area of 53,000 hectares in total with coal reserves estimated at 150 million tons.
Arsjad Rasjid, Indika's president director, said ten of the KPs are already at the exploration stage and the remaining three are at the pre-survey stage. "We expect the KPs to start initial production in 2012."
Azis said Indika spent US$18.5 million on the acquisition of the KPs. He added the development cost of the mines was estimated at $100 million over three years.
"This year, we aim to spend about $10 million on the KPs," Azis said.
According to Azis, Indika's total capital expenditure for this year was forecast to reach between $50 million and $55 million.
He added that outside this capital expenditure, Indika still had between $250 million and $300 million of cash reserves available.
"We still have available cash. Therefore, we will evaluate whether we still need other acquisitions or not," Azis said.
Source:http://www.thejakartapost.com/news/2009/05/12/indika-expects-increase-coal-production-1268-2010.html
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Monday, 27 July 09
ADANI POWER'S $625 MILLION IPO TO GENERATE HOT DEMAND
WSJ reported that, Adani Power, the electricity generating unit of India's Adani Enterprises Ltd., is set raise up to US$625 million in wha ...
Monday, 27 July 09
MIDDLE EAST COAL TO MOVE ON $1B EAST KALIMANTAN PROJECT
The Jakarta globe reported that, Middle East Coal reiterated on Monday that it would push ahead its $1 billion development program for East Kutai Re ...
Monday, 27 July 09
SHORT AND ONE YEAR PERIOD RATES FOR SUPRAMAX WAS FIRM AT AROUND US$ 18, 000 -18,500 PER DAY
COALspot.com (Singapore): The Supramax charter rates up sharply last week (ended 24th July 2009), especially India / Far East region said, Capt ...
Monday, 27 July 09
COKING COAL, IRON-ORE LIKELY TO BENEFIT NON-INTEGRATED STEEL PRODUCERS
Economictimes reported that, The second half of the financial year 2008-09 was one of the toughest periods for steel companies, especially the non-i ...
Monday, 27 July 09
GMR ENERGY BUYS EMCO POWERGEN SUBSIDIARY
DNA India reported that, Thane-based transformer manufacturer Emco Ltd has sold its stake in unlisted power generation subsidiary Emco Energy to Ban ...
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- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Planning Commission, India
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- The University of Queensland
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
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