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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, 07 August 09
COAL-PRICE FORECAST RAISED AT MERRILL ON CHINA, INDIA DEMAND
Bloomberg reported that, Bank of America Corp.’s Merrill Lynch & Co. unit increased its price forecast for Asian power-station coal becaus ...
Friday, 07 August 09
CHINESE DEMAND FOR FOREIGN COAL SOARS
Mining Weekly reported that, Chinese coal imports rocketed by 126,3%, year-on-year, in the first half of this year, the country’s customs auth ...
Thursday, 06 August 09
RICHARDS BAY COAL SHIPMENTS FELL 3% ON YEAR IN JULY
Bloomberg reported that, Richards Bay Coal Terminal, Africa’s largest coal-export facility, exported 3 percent less of the fuel in July than i ...
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 ...
Thursday, 06 August 09
CHINA JULY COAL IMPORTS AT 9.5 MLN T, DEMAND FIRM
* Coal imports at key ports in July 2.8 times year-ago levels
* July coal imports down nearly 40 percent from June
* China still buying overseas c ...
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- Goldman Sachs - Singapore
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- TNB Fuel Sdn Bhd - Malaysia
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- Planning Commission, India
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- Independent Power Producers Association of India
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- Indogreen Group - Indonesia
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- London Commodity Brokers - England
- Parliament of New Zealand
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- Asmin Koalindo Tuhup - Indonesia
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- Wood Mackenzie - Singapore
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- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
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- Indian Oil Corporation Limited
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- New Zealand Coal & Carbon
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- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
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- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
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- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
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- Economic Council, Georgia
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- Minerals Council of Australia
- Aditya Birla Group - India
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- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
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- Power Finance Corporation Ltd., India
- The University of Queensland
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Thiess Contractors Indonesia
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- Chamber of Mines of South Africa
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- Energy Link Ltd, New Zealand
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- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
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- Petron Corporation, Philippines
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- Jindal Steel & Power Ltd - India
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- IHS Mccloskey Coal Group - USA
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