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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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Friday, 02 July 10
PROPOSED MINERAL RESOURCE RENT TAX - PRESS RELEASE (2)
Press Release: BHP Billiton, Rio Tinto and Xstrata said today that they are encouraged by the Federal Government’s announcement that it propos ...
Friday, 02 July 10
MINERALS RESOURCE TAXATION IN AUSTRALIA - PRESS RELEASE
Press Release : Rio Tinto acknowledges the Australian Government’s announcement that the Resource Super Profits Tax (RSPT) proposal will be re ...
Thursday, 01 July 10
TATA POWER TO RAISE US$300 MILLION THROUGH ITS COAL SPVS TO FUND ADDITIONAL ACQUISITIONS AND / OR REDUCE OUTSTANDING DEBT
Stock Markets Review reported that, Tata Power, India’s largest private power player has signed an agreement to raise US$300 million in Bhira ...
Thursday, 01 July 10
HELLENIC SHIPPING NEWS POLL: THE BDI WILL STAY ABOVE 3,000 POINTS IN THE SECOND HALF OF 2010
When Hellenic Shipping News Worldwide prepared June’s poll asking readers about where do they think that the Baltic Dry Index (BDI) will range ...
Thursday, 01 July 10
PANAMAX MARKETS CONTINUE TO DROP IN ALL BASINS - FEARNLEYS
Handy
Atlantic rates continue to slide with little activity. Supras open in USG get low 30´s to Med and mid 40´s to FEast. Hmax/Supra ...
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- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Bhatia International Limited - India
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- White Energy Company Limited
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Australian Coal Association
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
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