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Wednesday, 07 October 09
COAL INDIA LOOKS AT LONG-TERM PRICE CONTRACTS
 Economic Times reported that, Coal India is looking at long-term price contracts, of at least three-four year periods, with foreign entities, 54 of them, who have responded to expression of interests (EoI) for strategic partnership with it. The idea is to import coal through this strategic partnership at a price which would be way cheaper than imported coal. In India, consumers either buy coal from the volatile spot market or through one-year contracts.
The coal major will primarily focus on either forming JV companies or collaborating with foreign entities who have coal assets in their respective home country. It is open to investing an aggregate of $1.5 billion in these ventures. CIL had invited expression of interests to form joint ventures or collaborate with mining companies from four countries – United States, Indonesia, Australia and South Africa.
Following his visit to meet interested parties in the US, Mr Partha S Bhattacharyya, chairman CIL said: "Central Mine Planning & Design Institute (CMPDIL) is examining each of these offers. They have made different offers and CMPDIL is examining them to come up with a format for presentation that needs to be made to CIL top bosses by December."
"We found that the companies in the US have not been experiencing much of a rise in production due to demand stagnation. However, they said, adequate investment and rise in demand in the form of orders from India could give them the boost to enhance production and take up additional investment in conjunction with CIL," said Mr Bhattacharyya.
Adding, he said: "We intend to work out the terms of the long term contract through strategic alliances which can be an effective way of importing coal faster and at cheaper prices."
On funding the proposed investments, Mr Bhattacharyya said: "CIL has total reserves of about $5-6 billion. It generates additional reserves of about Rs 3-4K crore (US$ 0. 643 - 0.857 billion) every year that can take care of the domestic investments for expansion and we would be open to investing anything between $1-5 billion for these ventures."
Back home, CIL registered a 9.9% rise to 184.44 million tonnes (167.8) in the first half of 2009-10. However, production from underground mines, which started showing a marginal rise, has declined once again albeit marginally by 0.31 mt to 20.78 mt. Coal offtake, on the other hand, rose 4.3% at 194.3 mt (186.22 mt) in the same period.
The company registered a decline in profit before tax 20% to Rs 3,600 crore (US$ 771,839,976.31 ) against Rs 4,484 crore (US$ 961,369,570.50) in the previous period. It is expecting a Rs 2,000 crore (US$ 428,799,986.84) additional outgo on account of wage revision and a Rs 1,400 crore (US$ 300,159,990.78) tax payout.
On forward E-auction, CIL top bosses said the first few e-auctions did not evince much interest from customers. About 16 lakh tonnes was offered but only about 2 lakh tonnes was picked up. "It seems that the mark-up on the notified price has not attracted adequate interest.
The base prices for e-auction were on cost of production basis subject to a maximum of 100% over notified price, since coal being offered were from underground mines that may have turned unviable if sold at notified prices. However, we need to reduce the base price to attract adequate bidders," he said. (US$ 1 = INR 46.641)
Source: Economic Times
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Wednesday, 07 October 09
ADARO SECURES $500 M LOAN
The Jakarta Post reported that, The country's second largest coal producer, PT Adaro Energy announced on Wednesday that it has secured US$500 milli ...
Wednesday, 07 October 09
WORLD'S LEADING COAL-BASED PP PROJECT TO BEGIN TRIAL PRODUCTION NEXT YEAR IN NW CHINA
Xinhua Net reported that, a coal-based polypropylene (PP) production project in northwest China, believed to be the world's largest one, is to ...
Wednesday, 07 October 09
INDIA SAIL TO IMPORT 10-11 MLN T COAL IN FY10 - EXEC
Reuters reported that, Steel Authority of India Ltd plans to import 10-11 million tonnes of coal in the current year to March, below last year's 13 ...
Wednesday, 07 October 09
DOMESTIC SHIPPING FIRMS READY FOR NEW RULES ON COAL, INDUSTRY GROUP SAYS
The Jakarta Globe reported that, The domestic coal-shipping sector is ready for the introduction of shipping regulations requiring all power station ...
Wednesday, 07 October 09
CHINESE BANK MAY PULL OUT OF SUMATRA COAL RAILWAY
The Jakarta Globe reported that, The Export-Import Bank of China may pull out of a $1.28 billion South Sumatra coal-railway project with state-owned ...
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- Ministry of Mines - Canada
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- MS Steel International - UAE
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- PTC India Limited - India
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
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