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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, 27 May 10
DRY BULK RATES REACH 2010 HIGHS, BUT FUTURE REMAINS UNCERTAIN
This week is proving to be a milestone for the dry bulk market, as the Baltic Dry Index has propelled itself at never before seen levels for 2010. Y ...
Wednesday, 26 May 10
ADANI GROUP EYES AFRICA FOR COAL MINING PROJECTS
India Info Line reported that, After acquiring coal mines for importing Indonesian coal to run its thermal power plants in the country, the Adani Gr ...
Wednesday, 26 May 10
DRY BULK MARKET SHOOTS UP, CLOSES IN ON POST-CRISIS ERA HIGHS
In an opposite trend than that of the previous week, the Baltic Dry Index (BDI), a benchmark for tracking costs to haul commodities at sea, shot up ...
Wednesday, 26 May 10
BUMI TO CUT UP TO USD 1 BILLION DEBT IN 12 MONTHS
Press Release : PT Bumi Resources Tbk. announced yesterday that it has revived its intent to issue non preemptive shares and added this to the agend ...
Tuesday, 25 May 10
COAL PRODUCTION MAY REACH 320 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce as much as 320 million tons of coal this year, an increase of nearly 7 perc ...
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- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Economic Council, Georgia
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- PTC India Limited - India
- The University of Queensland
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Australian Coal Association
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
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