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Wednesday, 16 December 09
UAE'S RAS AL KHAIMAH TO INVEST $5.2B IN EAST KALIMANTAN PROJECT
 Shrugging off neighbor Dubai’s debt problems, the smaller United Arab Emirate of Ras Al Khaimah announced on Tuesday that it would increase its planned in Indonesia from $1 billion to $5.2 billion to develop an integrated energy project in Kalimantan.
“This type of public-private, Middle Eastern-Indonesian initiative is a fantastic example of what can be accomplished when the fundamentals make sense for all parties involved,” said Sheikh Saud Bin Saqr Al Qasimi, the crown prince of Ras Al Khaimah, after a meeting with President Susilo Bambang Yudhoyono in Dubai on Sunday.
The project would help meet the development needs of East Kalimantan communities, while serving to meet the energy challenges in Asia, particularly India and China, Al Qasimi said.
The latest agreement is an expansion of a deal signed in February. At that time, representatives of East Kalimantan province and its East Kutai district met with the Ras Al Khaimah Investment Authority and its subsidiary, RAK Minerals and Metals Investments. The two companies agreed to invest in a 139-kilometer coal railway project in the province worth $1 billion.
However, now the emirate will also commit to building a coal terminal, aluminium smelter and a power plant, worth a total of $4.2 billion.
Madhu Koneru, the chief executive of MEC Holdings, the company which will oversee development of the East Kalimantan project, said the total investment could create as many as 5,000 new jobs in the area within five years.
Gita Wirjawan, the chairman of Indonesia’s Investment Coordinating Board (BKPM), said MEC Infra, a subsidiary of MEC Holdings, will invest $1 billion in the railway project.
“Despite certain perceptions about Indonesia, MEC Infra was able to purchase and clear the land for the entire corridor within a few months,” Gita said.
According to a written statement from MEC, the company will also invest $250 million to build the coal terminal.
It will also invest $2 billion in cooperation with NALCO, Asia’s largest integrated aluminum producer, to build a smelter with an estimated production capacity of 500,000 tons annually. An additional $2 billion will be invested by MEC Coal to build a 1,250 megawatt power plant for the smelter.
Ras Al Khaimah produces less oil than Dubai and its oil-rich neighbor Abu Dhabi, and has instead focused on developing its industrial sector.
It opened its first cement company in 1970s and is now the UAE’s largest producer of cement. In the 1980s, the emirate established RAK Ceramics, now one of the world’s biggest ceramics producers.
Source: The Jakarta Globe
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Thursday, 15 July 10
NO IMPROVEMENT IN THE DRY BULK MARKET - INTERMODAL
Broker’s insight
With the Baltic Dry Index today (13/7/2010) standing at 1,790 points - the lowest point since early May 2009 - ...
Thursday, 15 July 10
IRON ORE PRICING MECHANISMS PUT ON THE SPOT
THE new iron ore pricing mechanisms that killed off the annual benchmark system are coming under pressure. The spot price of the steel feed has fall ...
Thursday, 15 July 10
NTPC TO PURSUE COAL MINE ACQUISITION IN AUSTRALIA, INDONESIA - BUSINESS STANDARD
Business-Standard reported that, NTPC, the India’s largest power producer, has set the ball rolling to acquire coal mines or form joint ventur ...
Wednesday, 14 July 10
SUCCESSFUL COMMISSIONING OF GTLE LOW RANK COAL UPGRADING PLANT
COALspot.com: GTL Energy Ltd (GTL Energy) announced that construction and commissioning of its proprietary ‘first-of-a-kind’, low rank c ...
Tuesday, 13 July 10
BUMI TO PRODUCE MORE THAN 67 MILLION TONS OF COAL IN 2010
COALspot.com: Bumi resources, Indonesia’s largest coal producer has previewed its operating results in KPC/Arutmin for Jan – Jun 2010. A ...
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- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- The University of Queensland
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- PowerSource Philippines DevCo
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
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