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Wednesday, 28 October 09
MIDDLE EAST COAL EYEING INDIAN POWER PLANTS IN EXCHANGE FOR LONG TERM COAL SUPPLY
Reuters reported that UAE's Middle East Coal is in talks to buy equity stakes in India's power plants in exchange for long term coal supply.
MEC is JV between UAE investment fund RAK Minerals & Metals Investments and UAE based mining company Trimex. RMMI won a license in March to build a 150 kilometers long rail link carrying coal from a mine in Indonesia's East Kalimantan province to a coal terminal.
Mr Madu Koneru VC of Middle East Coal said that "We are close to signing a contact with a number of Indian power plants who need to be supplied with coal over the coming 15 years, the deals will be finalized by the end of next month. India has one of the fastest growing economies and also has a shortage of power supply so that's why we have decided to go ahead with these deals."
The deals would help MEC find the USD 500 million in financing it needs for the project. MEC would start approaching institutions for funding once the deals were in place.
He said that RMMI plans to provide USD 100 million of the initial USD 600 million investment. Around USD 500 million will come from institutions such as the World Bank. The rest of the investment would come from additional partners that the company is now seeking.
Middle East Coal plans to start shipments of 3 to 5 million tonnes of thermal coal via road. Once the rail project is complete, shipments would rise to 17 million tonnes. MEC had raised its projections for how much coal it could ship as it had progressed with planning for the project. Earlier this year, the company said that it would ship 15 million tonnes of coal.
Sourced from Steel Guru
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Thursday, 29 April 10
SOUTH AFRICAN ROUNDS BACK TO INDIA SUPRAS CAN ACHIEVE AROUND MID 20S
Handy
Atlantic markets remain firm. Supramaxes open in USG are now achieving low/mid&n ...
Thursday, 29 April 10
KANGAROO RESOURCES INKS KEY COAL EXPORT CONTRACT WITH YUDEAN FARNON - PROACTIVE INVESTORS
Proactive Investors reprted that, Kangaroo Resources has secured an initial export sales contract for coal from the company’s operating coal p ...
Wednesday, 28 April 10
UNITED TRACTORS FOCUSES ON MINING AS IT SEEKS TO DIVERSIFY REVENUE SOURCES - JG
The Jakarta globe reported that, PT United Tractors, Indonesia’s biggest heavy-equipment distributor and mining contractor, aims to have its m ...
Wednesday, 28 April 10
DRY BULK MARKET
After a prolonged period of anticipation and a stalled dry bulk market in terms of freight rates, the industry’s benchmark, the Baltic Dry Ind ...
Tuesday, 27 April 10
CAPESIZES UP, PANAMAXES DOWN - BRS
It was Capesizes up, Panamaxes down this week as the latter experienced a correction after its recent gains. Period rates for Panamaxes remain firm ...
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- Banpu Public Company Limited - Thailand
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- Directorate General of MIneral and Coal - Indonesia
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- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
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- India Bulls Power Limited - India
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- White Energy Company Limited
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- Goldman Sachs - Singapore
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- GMR Energy Limited - India
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- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
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- The University of Queensland
- Carbofer General Trading SA - India
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- Planning Commission, India
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- Romanian Commodities Exchange
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- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
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- Wilmar Investment Holdings
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- Medco Energi Mining Internasional
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- Independent Power Producers Association of India
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- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Bayan Resources Tbk. - Indonesia
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- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
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- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
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- Renaissance Capital - South Africa
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- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
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