We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 10 August 09
S.KOREA KOSPO ISSUES SPOT, TERM COAL TENDERS
Korea Southern Power Co Ltd (KOSPO) is seeking 1.5 million tonnes of steam coal per year for delivery from October 2009 through September 2012 via a ...
Monday, 10 August 09
POLICY HURDLES DELAY NALCO'S U$$ 4.166 BILLION OVERSEAS PROJECTS
National Aluminium Company Ltd's (NALCO) greenfield projects in overseas markets like Indonesia and Iran are in limbo because of political
...
Monday, 10 August 09
SAIL, TATA STEEL TO REDUCE COAL IMPORTS BY PARADIP PORT
World Shipping News reported that, Steel Authority of India Ltd (SAIL) and Tata Steel have scaled down coal imports through Paradip Port, hit by pre ...
Monday, 10 August 09
NTPC LIKELY TO SET UP POWER PLANTS IN NIGERIA AND SRILANKA
Economic time reported that, National Thermal Power Corporation Limited (NTPC), country's largest power utility, is likely to set up power plants i ...
Monday, 10 August 09
VINACOMIN TO SELL COAL AT MARKET PRICES TO DOMESTIC USERS
VNBusinessNews.com - Reuters reported that Vietnamese government has agreed to let coal monopoly Vinacomin sell coal at market oriented prices to do ...
|
|
|
Showing 6521 to 6525 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Petron Corporation, Philippines
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
|
| |
| |
|
