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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
and policy hurdles in those countries.
The policies of the Indonesian government and a volatile political situation in Iran are keeping the aluminium major from setting up its plants entailing an estimated investment of over Rs 20,000 crore (about US$ 4.166 Billion) , NALCO CMD C R Pradhan told PTI during his recent visit to Kolkata.
Though, the Indonesian law does not allow foreign companies to have a stake in mineral exploration, the NALCO project would be developed in a joint venture with a local partner who will have the control of the rights of coal and bauxite mines, he said.
The company would go ahead with the project, which would require at least Rs 10,000 crore (US$ 2.083 Billion) investment each, only after there is assurance of the right of some control on the minerals, Pradhan said.
The navratna company would be the majority shareholder and will control the management of the projects, Pradhan said.
Last year, NALCO had inked an agreement with the government of Indonesia for setting up a 5-lakh-tonne aluminium smelter and a 1,250 MW captive power unit at an investment of about Rs 17,000 crore (US$ 3.541 Billion).
In Iran, NALCO has plans to set up a 3.30-lakh (0.33 million) tonne smelter in a joint venture with the Iranian firm ALPHA at an investment of Rs 10,000 crore. But, the company seeks a better political climate before it submits the project plan to the Iranian government for approval.
It also plans to set up an aluminium smelter in South Africa, but the project is in nascent stage.
NALCO was aiming to ramp up its production capacity to 2.10 lakh tonnes (0.21 million) per annum for the current fiscal. In 2010-11, the capacity would be scaled up to 2.60 lakh (0.26 million) tonnes.
Pradhan was also expecting aluminium prices to stabilise at Rs 1,800-2,000 (US$ 37.5 - 41.67) a tonne which, he said, would offer the company a comfortable margin as its break-even price was below Rs 1,400 (US$ 29.16) a tonne. (1 US$ = Rs. 48)
Source: Ecomic Times
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Friday, 21 August 09
HUANENG YIMIN TO HIKE COAL OUTPUT
China Daily, the largest English portal in China reported that, China's first large coal-electricity joint project, Huaneng Yimin Coal Electricity ...
Thursday, 20 August 09
INDONESIA'S DELTA DUNIA BUYS COAL FIRM FOR $550 MLN
* Delta Dunia to acquire BUMA for $550 million
* Expect to complete the deal in the fourth quarter of 2009
* Delta Dunia has appointed Barclays Ca ...
Thursday, 20 August 09
MUNDRA PORT BAGS MORMUGAO PORT COAL TERMINAL DEVELOPMENT CONCESSIONS
NDTV reported that, Mundra Port and Special Economic Zone (Mundra Port) the largest private port in India has won the bid for the development of coa ...
Thursday, 20 August 09
INDONESIA'S BUKIT ASAM SET FOR MINE ACQUISITIONS
* Allocates $150 million for coal mine acquisitions
* Expects one deal to be completed by the end of 2009
Reuters world's largest international ...
Thursday, 20 August 09
INDONESIAN COAL EXPORT LESSENS IN FIRST SEMESTER
Domestic coal use has grown by five million tons.
Viva News reported that, Domestic coal export up until the first half of 2009 decreased by four ...
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