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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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- ASAPP Information Group - India
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- PTC India Limited - India
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- White Energy Company Limited
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
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