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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 $2 billion will be invested by MEC Coal to build a 1,250 megawatt power plant for the smelter.
Ras Al Khaimah produces less oil than Dubai and its oil-rich neighbor Abu Dhabi, and has instead focused on developing its industrial sector.
It opened its first cement company in 1970s and is now the UAE’s largest producer of cement. In the 1980s, the emirate established RAK Ceramics, now one of the world’s biggest ceramics producers.
Source: The Jakarta Globe
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Sunday, 16 May 10
INDIKA ENERGY & COAL ASSETS EXPANSION
Insider stories reported that, PT Indika Energy Tbk (INDY) has three portfolio coal assets, PT Kideco Jaya Agung, coal asset in East Kalimanta ...
Saturday, 15 May 10
THE AVERAGE CHARTER HIRE FOR CAPE REACHES US$ 49,931 PER DAY - VISTAAR SINGAPORE
COALspot.com: "The freight market was extremely buoyant this week with BDI almost up by 9 pct and the market was very firm in Feast/SE Asia sec ...
Saturday, 15 May 10
DRY BULK MARKET POSTS HEALTHY WEEKLY GAINS
The dry bulk market has reached new highs this week, the second consecutive solid one, with the industry’s benchmark, the Baltic Dry Index (BD ...
Friday, 14 May 10
JSW BUYS COAL MINES IN US, PRODUCTION STARTS IN SEPT
JSW Steel on Friday said it has completed $100 million acquisition of coking coal assets in the US and will start production from September to parti ...
Friday, 14 May 10
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL PROJECTS - PROACTIVE INVESTORS
Proactive Investors reported that, Kangaroo Resources (ASX: KRL) is preparing to complete the acquisition of its five outstanding Indonesian coal pr ...
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- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
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