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Saturday, 30 May 09
COAL INDIA SIGNS FUEL SUPPLY AGREEMENT WITH NTPC - SINDHTODAY
 India’s largest coal miner Coal India Friday inked a much-awaited fuel supply agreement (FSA) with power generation major NTPC Ltd.
In the agreement both sides have settled for a ‘trigger level’ of 90 percent. Trigger level is the minimum assured level of coal supply and offtake, failing which either of the parties will attract penalty.
Earlier Coal India had insisted on a trigger level of 75 percent, but NTPC had asked for 90 percent.
The FSA signed here is the first between Coal India and any power utility and would serve as the model for all subsequent agreements between coal companies and power agencies, Coal India chairman Partha Bhattacharyya said.
“We will now sign such pacts with state power utilities and other power companies,” he told reporters.
As per the new coal distribution policy (NCDP) of the central government, coal companies are required to supply the black gold to consumers through legally enforceable FSAs with performance-based ‘take or pay’ provision.
Out of its 1,222 valid consumers, Coal India has formulated FSAs with 1,167, but so far it had not entered into any such pact with any power utility.
More than 75 percent of Coal India’s production is lapped up by power utilities.
The Central Electricity Authority (CEA), which played a pivotal role in formulating the FSA, has developed an all India coal supply matrix for all 78 power stations in which Coal India will supply a total aggregate annual contracted quantity (ACQ) of 306 million tonnes, Bhattacharyya said.
The tenure of the FSA with power utilities will be a maximum of 20 years or till the end of the life of the power station, whichever is earlier. However, there are provisions for a joint review of the ACQ after five years.
The coal company will get a bonus if it can supply more than the trigger level of 90 percent of the ACQ, but will have to shell out a penalty to the power agency if the supply falls below the trigger level.
Similarly, the power utilities will be eligible for a bonus if they can lift more than the trigger level of 90 percent of the ACQ, but pay a compensation in case the lifted quantity falls below the trigger level.
NTPC chairman R.S. Sharma was also present at the media meet.
Source: http://www.sindhtoday.net/news/1/15435.htm
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Sunday, 28 June 09
INDIA CEMENTS TO INVEST RS 1,500 CR OVER 2 YEARS
Chennai-based India Cements is planning to invest around Rs 1,500 crore over the next two years for setting up a greenfield project in Rajasthan, po ...
Saturday, 27 June 09
HEAVY CONGESTION AT AUSTRALIAN PORTS REACHING ALL TIME HIGH TO 120 SHIPS IN EAST COAST AUSTRALIA - VISTAAR SHIPPING
COALspot.com (Singapore): The market this week was a bit soft and the BDI was down by almost 10 pct and closed at 3,703 points.
The drop in BDI i ...
Friday, 26 June 09
INDONESIA INVESTORS EYE BHP BILLITON COAL PROJECT
About four Indonesian investors are interested in taking over a coal project owned by BHP Billiton Ltd, a senior government mining official said.
...
Friday, 26 June 09
SOUTH AFRICA'S CONSULTING GROUP OPENS OFFICES IN CHINA, INDONESIA
Consulting engineering company SRK Consulting has opened new offices in Asia to cope with the growing demand for its services in the region.
The ...
Friday, 26 June 09
RUSSIA MECHEL TO DELIVER 2 MLN T COKING COAL TO ASIA
Russian steel and coal producer Mechel said on Thursday it had signed contracts to deliver about 2 million tonnes of coking coal concentrate to unna ...
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- Sojitz Corporation - Japan
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- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
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- Banpu Public Company Limited - Thailand
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- Indian Oil Corporation Limited
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- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
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- Medco Energi Mining Internasional
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- Indian Energy Exchange, India
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- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
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- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
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- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
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- Global Green Power PLC Corporation, Philippines
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- Kumho Petrochemical, South Korea
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- Posco Energy - South Korea
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- India Bulls Power Limited - India
- New Zealand Coal & Carbon
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- Star Paper Mills Limited - India
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- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
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- Australian Coal Association
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- Deloitte Consulting - India
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
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- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
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- Trasteel International SA, Italy
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- Ministry of Finance - Indonesia
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- Minerals Council of Australia
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- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
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- Ambuja Cements Ltd - India
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- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
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