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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, 10 June 10
CHARTERERS ARE NOT WILLING TO PAY THE RATES AS MARKET SLIDES
DRY BULK
Handy
Atlantic markets are quieter (Posidonia?) with less activity. Nevertheless expect some fresh enquiries f ...
Thursday, 10 June 10
R-POWER, INDONESIA'S SUGICO INK PACT TO ACQUIRE COAL MINES - ECONOMIC TIMES
Economic Times of India reported that, Anil Ambani-owned Reliance Power has signed a share-sale agreement with Indonesia’s Sugico Group to acq ...
Thursday, 10 June 10
PARAMOUNT MINING CORPORATION REPORTS KEY INDONESIAN JV AGREEMENT
Indonesia focussed Paramount Mining Corporation has reported that its Indonesian subsidiary, PT Paramindo, has concluded a Joint Venture Agreem ...
Wednesday, 09 June 10
INDIA, CHINA TO PROP UP THERMAL COAL DEMAND - COMMODITY ONLINE
Commodity Online : Weakness in thermal coal demand in OECD will continue to be offset by growth in demand in India and China. Therefore, the s ...
Tuesday, 08 June 10
TATA POWER LOOKING TO PICK UP STAKE IN OVERSEAS COAL MINES - ECONOMIC TIMES
Economic Times reported that, Tata Power is looking for a strategic stake purchase in coal mines of Indonesia or South Africa to fuel its upcoming 1 ...
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- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
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