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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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Thursday, 14 May 20
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Thursday, 14 May 20
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Wednesday, 13 May 20
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Tuesday, 12 May 20
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Tuesday, 12 May 20
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KNOWLEDGE TO ELEVATE
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Central Electricity Authority - India
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- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
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- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
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- Independent Power Producers Association of India
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- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
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- Chamber of Mines of South Africa
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- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
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- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
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- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
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- Standard Chartered Bank - UAE
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- Merrill Lynch Commodities Europe
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- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
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- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
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- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Planning Commission, India
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- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
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- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
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- Pipit Mutiara Jaya. PT, Indonesia
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- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
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- South Luzon Thermal Energy Corporation
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- AsiaOL BioFuels Corp., Philippines
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- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
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- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
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- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
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- Electricity Authority, New Zealand
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- The University of Queensland
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
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- Wilmar Investment Holdings
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- Sinarmas Energy and Mining - Indonesia
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