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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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Wednesday, 30 September 09
INDIA CEMENTS SET TO PRODUCE POWER; EYES COAL MINE IN INDONESIA
Financial Express reported that, Tamil Nadu-based India Cements Ltd (ICL) has firmed up plans to produce power to meet its current and future requir ...
Wednesday, 30 September 09
COKING COAL PRICES MAY TOUCH $200/TN IN 2010-11
Business Standard reported that, Driven by surge in imports of coking coal by China, growth in Japanese steel output and signs of recovery in the In ...
Wednesday, 30 September 09
PURNOMO BIDS 'GOODBYE' TO ENERGY MINISTRY
The Jakarta globe reported that, In what could be construed as a resignation speech from a government official — but perhaps wasn’t &mda ...
Tuesday, 29 September 09
MINING AND ENERGY DAY 2009
The Minister of Energy and Mineral Resources, Purnomo Yusgiantoro led the ceremony marking 2009 Mining and Energy Day celebrations, held at the Depa ...
Tuesday, 29 September 09
BUKIT ASAM REDUCES ITS SALES TARGET
Tempo Interactive reported that, PT Tambang Batubara Bukit Asam Tbk has decided to reduce its sales target this year from 14.5 million tons of coal ...
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- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- The University of Queensland
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Australian Coal Association
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
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