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Thursday, 08 October 09
ESSAR UNIT WINS INR 479 CR (US$ 103,272,401) ORISSA PROJECT
 The firm will develop and operate the terminal at Paradip port; the contract will stretch up to 30 years
Live Mint reported that, Essar Shipping Ports and Logistics Ltd has won a bid to develop and operate a Rs479 crore (US$ 103,272,401) coal handling terminal at the Union government-owned Paradip port in Orissa.
“We have received a letter from Paradip port conveying its intent to award the project to us,” said V. Ashok, a director at the Essar Group.
Paradip port chairman K. Raghuramaiah said the firm was the highest bidder in a public auction.
The contract for the coal-handling project, stretching up to 30 years, will be signed after the Orissa high court disposes of a petition filed by a company that was excluded from the bidding process.
“The case will come up for hearing any day,” Raghuramaiah said by phone from Paradip. Essar Shipping had quoted a revenue share price bid of 22% for the terminal with a capacity to handle 10 million tonnes of coal a year.
The firm will share that percentage of the revenue earned from operating the terminal with the port for each of the 30 years.
According to rules for auctioning port projects, the bidder willing to share the highest percentage from its annual operating gross revenues with the government-owned facility will win the rights to develop and operate the cargo-handling berths.
Essar Steel Ltd, another group company, is setting up an integrated 6 million tonne (mt) per annum steel plant just 3km from Paradip port. The first phase of the project is slated for completion by the first quarter of 2010. The coal terminal will help the company import a key raw material used for making steel.
Jindal Steel and Power Ltd, which did not qualify for bidding, challenged its exclusion in the Orissa high court, which stayed the auction process. Paradip port got the stay vacated by the Supreme Court, which also directed the Orissa high court to decide the case expeditiously.
“We are waiting for the court case to be sorted out before signing the contract,” Essar Shipping’s Ashok said.
Paradip is one of the 12 ports owned by the central government that together handle some 72% of India’s external trade shipped by sea. They handled 530mt of cargo in the year ended March. The new project is one among several planned by the government to raise cargo handling capacity at the dozen ports to 1,016mt by 2012 from the existing 567mt to overcome capacity bottlenecks.
Source: Live Mint
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Monday, 19 October 09
CEMENT UNLIKELY TO COST MORE DESPITE COAL PRICE HIKE
Business-Standard reported that, Cement manufacturers will not immediately hike prices of the construction material, despite a surge in their input ...
Saturday, 17 October 09
US COAL MINERS LOOKING AT LOWER PROFITS
Most US coal miners are looking at sharply lower third-quarter earnings, but those that produce coal for steelmaking and export should enjoy higher ...
Friday, 16 October 09
INDONESIA EXPORTED 19,194,857 MT OF COAL IN SEPTEMBER 2009 - SOURCES
COALspot.com (Indonesia): Indonesia exported 19,194,857 MT of coal in September 2009. Out of total exported quantity, South Korea imported abou ...
Friday, 16 October 09
NAVIGATING THROUGH STORMY WATERS
To Theodore E Veniamis, the President of the Union of Greek Shipowners, the current turmoil in world shipping is due to the cyclical nature of marit ...
Friday, 16 October 09
COAL INDIA RAISES PRICE BY 11%
Trak reported that, State-owned Coal India Ltd (CIL) has raised the price of coal produced by its subsidiaries by an average of 11 percent effective ...
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- Commonwealth Bank - Australia
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- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
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- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
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- Minerals Council of Australia
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- Indian Oil Corporation Limited
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- Sree Jayajothi Cements Limited - India
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- Sakthi Sugars Limited - India
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- SN Aboitiz Power Inc, Philippines
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- Parliament of New Zealand
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- Mjunction Services Limited - India
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- Larsen & Toubro Limited - India
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- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
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- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
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- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
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- Ministry of Finance - Indonesia
- Australian Coal Association
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- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
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- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
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- ASAPP Information Group - India
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- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
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- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
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- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
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- McConnell Dowell - Australia
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- Attock Cement Pakistan Limited
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- The State Trading Corporation of India Ltd
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