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Saturday, 12 September 09
INDONESIAN CO KEEN ON TRADING COAL FOR EQUITY IN POWER PROJECTS
 Though most large power project promoters have their own mines in Indonesia, MEC is confident of convincing Indian companies as its price is quite attractive.
The Hindu Business Online reported that, 11 The large-size power projects announced by various Indian companies seem to have prompted a standalone Indonesian coal miner to come knocking on their doors.
Middle East Coal (MEC), a joint venture between Trimex Group and the UAE Government-owned RAK Minerals and Metals Investment, has initiated talks with these players to swap equity for coal. The company assures coal supply at $35-$40 a tonne for 15 years. Currently, coal prices are around $50-$55 a tonne.
MEC is developing a coal mine at East Kalimantan in Indonesia with proven reserves of two billion tonnes at an investment of $1 billion.
Mr Madhu Koneru, Executive Vice-Chairman, MEC, said production would begin with two million tonnes by the middle of next year and would be ramped up to 15 million tonnes by November 2011.
“We have floated a tender of $1 billion to develop a coal jetty and rail link of 130 km to transport the coal from the mine. With such huge investments, we thought of forward integration by joining hands with the promoters of large power projects,” he added.
The company wants to sell 70 per cent of its production to India and the balance to China.
On an average, about 17 million tonnes of coal are needed for a generation capacity of 5,000 MW. Coal accounts for about 60-70 per cent of the power production cost in India for producers dependent on imports.
Though companies such as Reliance Power, Tata Power and Adani Power have their own mines in Indonesia, MEC is confident of convincing Indian companies as the price it is offering is quite attractive.
It has managed to offer a lower price compared to others as the rail link being developed will result in savings of about 50 per cent of transportation costs.
The company is targeting new power projects as existing companies use coal with calorific value of 6300 Kcal/kg while MEC will produce coal with calorific value of 5300 Kcal/kg. The stripping ratio of MEC mines is 1:1 (mud to coal), while for most mines it is 8:1, said Mr Koneru.
MEC has also signed an agreement with Nalco which plans to set up a one million tonne alumina smelter at the coal mine site in Indonesia. Nalco will hold 74 per cent stake in the project while MEL will have 26 per cent equity to provide assured coal supplies. The company is in the process of negotiating the price, he said.
Source: The Hindu Business Online
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Sunday, 04 October 09
GRASIM TO CONSOLIDATE CEMENT BIZ
The Statesman reported that, India's largest cement producer Aditya Birla group today said it would consolidate its cement businesses by merging Gr ...
Sunday, 04 October 09
GOVT THREATENS TO CANCEL COAL BLOCK ALLOTTED TO BINANI CEMENT
Economic Times reported that, The government has threatened to cancel a coal block allocated for captive use to Binani Cement saying the company see ...
Saturday, 03 October 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR
COALspot.com (Singapore): The BDI firmed up this week by almost 8 pct to 2,357 points , the main reason being jump in Cape size index by almost 22 p ...
Friday, 02 October 09
C&O SEES INDONESIA COAL PURCHASES UP 20 PCT IN 2010
Reuters reported that, Dubai-based coal trader Coal & Oil (C&0) expects its coal purchases from Indonesia to increase by at least 20 percent ...
Thursday, 01 October 09
MJUNCTION LAUNCHES INDIA'S FIRST COAL SPOT PRICE INDEX
• Named 'MJcomposite, MJsteel, MJcement, MJpower' the value weighted index will benefit Indian coal buyers by minimising risk against pr ...
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- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- White Energy Company Limited
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
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- The University of Queensland
- Jaiprakash Power Ventures ltd
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- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
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- Straits Asia Resources Limited - Singapore
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- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
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- Neyveli Lignite Corporation Ltd, - India
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- Antam Resourcindo - Indonesia
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- Eastern Coal Council - USA
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- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
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- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
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- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
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- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Mjunction Services Limited - India
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- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
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- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
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- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
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