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Thursday, 06 August 09
NTPC LOOKS TO BYPASS STATE TRADING FIRMS ON COAL IMPORT
 A reduced coal import bill for NTPC could lead to lower power tariffs
Live mint.com reported that, India’s largest power generation utility, NTPC Ltd, may directly import the coal it needs, instead of asking state-owned trading firms such as MMTC Ltd and State Trading Corp. of India Ltd (STC) to import the fuel for it.
The move, which could affect revenue from coal imports at these trading firms, is a fallout of a controversy surrounding MMTC’s execution of an order to import a record 12.5 million tonnes (mt) of coal valued at Rs6,000 crore for NTPC. That order is now stuck.
One of the bidders for the tender, Knowledge Infrastructure Systems Pvt. Ltd (KISPL), has alleged foul play in the way this order was executed, and has demanded an investigation into the procurement process and an intervention by the Prime Minister’s Office.
NTPC could reduce its coal import bill through direct imports that do not involve paying a commission to the trader. This could mean proportionately lower power generation costs and, consequently, lower tariffs.
“We plan to operationalize this sourcing mechanism by the end of this year and we are in talks with overseas coal mining firms in Indonesia and Australia for the same,” said a top NTPC executive who did not want to be identified. “We are aware about the controversy surrounding our 12.5mt coal contract with MMTC over which questions have been raised from some quarters.”
NTPC has a coal import policy in place and can only import coal through state trading firms such as MMTC and STC. This policy will need to be changed should NTPC want to import coal directly.
In an email communication, KISPL’s spokesperson voiced two concerns about the controversial 12.5mt contract. The first is NTPC’s use of an intermediary because this will lead to a mark-up in the imported cost of coal. “Since fuel cost is a pass-through, this additional cost is passed on to citizens in the form of increased power tariff and, hence, the process should be discouraged,” wrote the spokesperson.
The second has to do with the conditions of the import tender which the spokesperson claims are “against Central Vigilance Commission (CVC) guidelines and standard public sector tenders.” “The tender neither provides level playing ground for all the bidders nor does it seem to promote competition, which is the main basis behind public tenders.”
CVC is a government entity that serves as a sort of conscience keeper for state-owned companies.
Other bidders for the 12.5mt contract are Adani Enterprises Ltd and two consortia, Agarwal Coal Corp. Pvt. Ltd and Kowa Co. Ltd of Japan; and Dubai-based Coal and Oil Group (C&O), Coastal Energy Pvt. Ltd and Seapol Pvt. Ltd.
“The controversy has been raised as there is a conflict between various competitors. There is a divergent view on the qualification criteria between CVC and NTPC. We are stuck there. We have communicated to NTPC that either you get these qualification criteria cleared by the CVC or we get an approval from our board,” said a senior MMTC executive who did not want to be identified.
The same MMTC official maintained that NTPC’s decision to bypass a trading firm will only have a minimal impact on its turnover. “We are not regularly importing coal for NTPC. The last time we imported coal for them was in 2005-06—2.1 mt. I will not say that it is a loss of business as it is an additional business we are looking for. It is NTPC’s prerogative whether they want to do it through a trading company such as ours or themselves,” he said.
MMTC posted a net profit of Rs1,654.42 core on a turnover of Rs36,904.62 crore in 2008-09. Of this, revenue of Rs2,724 crore came from the coal business. The firm imported 3.7mt of coal in the last fiscal for state utilities. Mint could not immediately ascertain the share of NTPC in the state trading firm’s coal import business in previous years.
The size of the market for imported coal that goes into power generation in India is around 20mt a year, and is expected to double by 2012 as more thermal power projects come up.
Coal is critical for NTPC as at least 80% of its installed capacity of 30,644MW is coal-based. However, a majority of its coal-based projects don’t have sufficient stock of coal. NTPC used 125 million tonnes per annum (mtpa) of domestic coal in 2008-09 and 6.41 mtpa of imported coal. Indian coal has a high-ash content, one reason why some domestic coal-based power plants mix it with higher quality coal that is imported.
An Adani Group spokesperson could not be reached for comment and questions mailed to his email address bounced back. Questions emailed to the firm remained unanswered.
A consultant said that intermediaries usually add to the cost unless they can aggregate demand and get better bargains in the international market. “That, however, may not be the case with some of the larger utilities in India,” said Dipesh Dipu, principal consultant, mining, at audit and consulting firm PricewaterhouseCoopers,
India has known coal reserves of 255 billion tonnes, the fourth largest in the world. Coal accounts for at least 50% of India’s commercial energy consumption and around 78% of domestic coal production is dedicated to power generation.
Source: Live Mint
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Friday, 28 August 09
COAL MINE BUYERS DUST OFF THEIR CASH ( ANALYZED BY REUTERS)
* Coal asset buyers give up waiting for bargains
* Mining majors expected to buy not sell
* South Africa a target, Indonesia less so
By Jackie ...
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 ...
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- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
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