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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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Sunday, 26 April 09
INDONESIAN GOVT SAYS COAL MINES CAUSE WEEKLONG FLOOD - THE JAKARTA POST
Samarinda administration in East Kalimantan admitted openly Thursday that the weeklong flood that paralyzed the city was caused by unruly management ...
Saturday, 25 April 09
FOREIGN SHARE DIVESTMENT STARTING THE 6TH YEAR OF PRODUCTION - MAJALAH TAMBANG
The government would set a divestment scheme for foreign miners, which would require companies to divest their ownership starting the 6th year of pr ...
Saturday, 25 April 09
INDO TAMBANGRAYA MEGAH ALLOCATED USD 126 MILLION FOR CAPITAL SPENDING - MAJALAH TAMBANG
Somyot Ruchirawat, President Director of PT Indo Tambangraya Megah, Tbk (ITMG), has announced the company's total dividend payment of Rp 1,345 per ...
Saturday, 25 April 09
MINING SECTOR IS STILL ON THE SURPLUS - THE JAKARTA POST
The global financial crisis is apparently also having an impact on the mining sector. People are thinking twice about investing in the mining sector ...
Saturday, 25 April 09
ADARO RUNS CATARACT OPERATION PROGRAM - THE JAKARTA POST
As part of its CSR program, thermal coal producer PT Adaro Indonesia has made cataract operations available to residents of Tandjung district, South ...
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- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Marubeni Corporation - India
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
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