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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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Tuesday, 07 August 12
2ND ANNUAL FLOATING TERMINALS
Press Release - After a ground breaking and successful launch in 2011, the 2nd Annual Floating Terminals conferenceis back to address innovation, co ...
Tuesday, 07 August 12
KRISHNAPATNAM PORT HAS DISCHARGED 122,247 MTS OF COAL IN JUST 24 HRS
COALspot.com - Keeping with the tradition of the new records that are set at the Olympic Games 2012, Krishnapatnam Port has also achieved in setting ...
Tuesday, 07 August 12
THE JAKARTA POST EDITORIAL: REVISITING THE MINING LAW
The Jakarta post, one of the leading English news paper in Indonesia writes in its editorial today, what the domestic and foreign investors had drea ...
Tuesday, 07 August 12
BARAMULTI SET TO LIST ON BOURSE IN Q4 - JP
The Jakarta Post reported that, coal miner PT Baramulti Sukses Sarana is preparing to make its shares available to the public in the fourth quarter ...
Tuesday, 07 August 12
REALM RESOURCES COMPLETES STUDY ON ITS KATINGAN RIA COAL PROJECT
COALspot.com - Realm Resources Ltd. has announced that it has completed the Project Study for the Katingan Ria Project in Central Kalimantan, Indone ...
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- Tamil Nadu electricity Board
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- Commonwealth Bank - Australia
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- GMR Energy Limited - India
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- Ministry of Finance - Indonesia
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- Australian Coal Association
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- Vedanta Resources Plc - India
- VISA Power Limited - India
- Orica Mining Services - Indonesia
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- IEA Clean Coal Centre - UK
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- PTC India Limited - India
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Australian Commodity Traders Exchange
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- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
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- Bulk Trading Sa - Switzerland
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- Indonesian Coal Mining Association
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- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
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- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- SMG Consultants - Indonesia
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- Intertek Mineral Services - Indonesia
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- Kumho Petrochemical, South Korea
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- Thai Mozambique Logistica
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- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
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- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
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- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
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- Timah Investasi Mineral - Indoneisa
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- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
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- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
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- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
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- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
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- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
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- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
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- Aditya Birla Group - India
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
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- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
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- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
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- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
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- Indian Oil Corporation Limited
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