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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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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 ...
Wednesday, 26 August 09
COAL INDIA MAY HIKE COAL PRICES BY UP TO RS 175 (ABOUT US$ 3.60) A TONNE
The Economic Times reported that, state-owned Coal India may hike coal prices by up to Rs 175 (~ US$ 3.60) a tonne to close the gap between domestic ...
Tuesday, 25 August 09
KOREA TO INTRODUCE COAL-MINING ROBOTS TO REDUCE THE RISK OF HUMAN LOSSES FROM CONVENTIONAL MINING
Far East Gizmos reported that, The state-run Korea Coal Corp. (KOCOAL) signed a memorandum of understanding (MOU) on Monday with three Korean engine ...
Tuesday, 25 August 09
INDIA'S GNFC EXTENDED ONLINE BIDDING FOR PURCHASE OF 260,000 T COAL TO 23RD SEPTEMBER 2009
COALspot.com (India): Gujarat Narmada Valley Fertilizers Co. Ltd. (GNFC) invites offers (e-Tender) for supply of 130,000 MT +/- 5% on firm basis and ...
Tuesday, 25 August 09
ANTAM CONSIDERS ACQUIRING BHP
The Jakarta Post reported that, State mining company PT Aneka Tambang (Antam) is contemplating acquiring BHP Billiton's coal concessions in Central ...
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- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
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