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Wednesday, 15 June 11
INDONESIA NEW COAL POLICY WORRIES INDIA POWER FIRMS - MYDIGITALFC
 Tata Power, Adani group, Lanco Infratech and Reliance Power, among other Indian coal importers, are waiting to assess the impact of the Indonesian government attempts to benchmark its coal prices to international indices. The new system has the potential to increase the cost of thermal power generated using imported coal in India.
The new method that will come into effect from September attempts to link the royalties paid to the Indonesian government to an index of coal prices for Australian and South African coal in addition to others. But Indian firms said Indonesian coal is of lower calorific value and, hence, priced cheaper compared with Australian and South African coal.
Deepak Amitabh, director (corporate finance) of PTC, said there are lots of issues, which still need to be sorted before the coal prices are determined. “We are still not clear how the government will work out the price differentials between Indonesian coal and that produced by Australia or South Africa, for example. Also the spot prices are always costly compared with the long-term sales contracts. We need to find out if the long term contracts for Indonesian coal would be at discount to international market prices or not.”
In September 2010 the Indonesian government issued new regulations to determine the benchmark price for the sale of coal and minerals. The regulation proposes to peg the price for both domestic sales and export of coal to a ‘benchmark price’ for all the mining licensees. Dipesh Dipu, director, consulting (mining) at Deloitte in India said the new regulation will force companies to transact at market prices, which may be seen as raising the cost of delivered coal in India.
“When companies invest in Indonesia, they tend to have the intent to sell coal at cost, so that Indonesian business unit remained at no or negligible profits. Taking a holistic view, however, the cash flows in an integrated Indonesian coal mining and Indian power generation unit after this regulation will continue to be similar, except that income taxes will be paid in Indonesia, and the cash flows will need to be brought on the books on Indian power project after paying taxes in Indonesia through appropriate and innovative business structuring,” said Dipu.
Banmali Agarwala, executive director and head of business development at Tata Power said, “The increased pricing will definitely affect the cost of generation and we are trying to work out a strategy to handle the additional hike.”
Adani group that sources coal from its mines in Indonesia is also expected to be affected by this regulation, as Adani Enterprises has direct stake in Bunyu mines in Indonesia. Adani Power has contracted to procure 4.6 mtpa coal from Adani Enterprises at $36 per tonne. However, the total import requirement for present operational capacities is around 6 mtpa.
Vijaykumar Bupathy, senior analyst with Spark Capital Advisors, said in report that “Assuming a $50 per tonne increase in the free on board (FoB) price of coal, there would be Rs 1,040 crore incremental fuel cost to the group to the extent of the committed 4.6 mtpa of supply alone.” However, when Financial Chronicle contacted Adani Enterprises, the company said there will be no direct impact on the company, since its total cost of mining and transporting Indonesian coal to Mundra is $25 per tonne. The coal is sold to Adani Power at $36 per tonne. “Any hike in price would only increase the royalty payments by around $1 or $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Friday, 28 August 09
JSW MAY BUY AFRICAN MINE FOR US$ 350
The Economic Times Reported that, The Sajjan Jindal-owned JSW Group is in advanced talks to acquire a coal mine in Swaziland, Africa, at an estimate ...
Friday, 28 August 09
COAL INDIA ALLOWED TO IMPORT COKING COAL
The government Thursday allowed the state-owned Coal India to import coking coal and high grade ash thermal coal by acquiring coal properties abroad ...
Thursday, 27 August 09
CIL TO SPEND US$ 1 - 1.5 BN TO ACQUIRE ASSETS IN 4 COUNTRIES
Business Standard reported that, "Coal India is looking to spend $1-1.5 billion in acquiring mining assets in Australia, Indonesia, South Afric ...
Wednesday, 26 August 09
INDIA'S JSW TO DOUBLE JAIGARH PORT CAPACITY TO 20 MT
Sea Trade Asia reported that, JSW Jaigarh Port, a wholly owned subsidiary of JSW Infrastructure & Logistics, plans to double cargo handling capa ...
Wednesday, 26 August 09
JSW ENERGY NEARS COAL-SUPPLY LINKAGE DEAL IN INDONESIA
Sajjan Jindal-owned JSW Energy is close to finalising a coal-supply linkage pact in Indonesia and is also exploring options of acquiring ...
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- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Australian Coal Association
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- GMR Energy Limited - India
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
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