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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 $2 billion will be invested by MEC Coal to build a 1,250 megawatt power plant for the smelter.
Ras Al Khaimah produces less oil than Dubai and its oil-rich neighbor Abu Dhabi, and has instead focused on developing its industrial sector.
It opened its first cement company in 1970s and is now the UAE’s largest producer of cement. In the 1980s, the emirate established RAK Ceramics, now one of the world’s biggest ceramics producers.
Source: The Jakarta Globe
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Tuesday, 04 May 10
APRIL 2010 COAL PRICE REFERENCE WAS US$ 86.58/T FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has publishing a monthly coal price reference (HBA) to be used by ...
Tuesday, 04 May 10
DRY BULK MARKET SOFTENING AGAIN ON LACK OF DIRECTION
The dry bulk market has put on the brakes once again, after the last session of the Baltic Dry Index ended at 3,354 points, down 5 from the previous ...
Monday, 03 May 10
AUSTRALIA PLANS 40 PERCENT TAX ON MINING PROFITS - THE JAKARTA POST
The Jakarta Post reported that, Australia would heavily tax the booming profits of its mining companies under a tax system overhaul proposed Sunday ...
Saturday, 01 May 10
THE PERIOD ACTIVITY WAS QUITE FIRM DURING THE WEEK - CAPT. REDDY
COALspot.com: The BDI was up by 11.32 pct which was mainly due to the firmness in capsize index which was up by 21.55 pct .
The other sectors Pan ...
Saturday, 01 May 10
EXPANDED SA COAL TERMINAL TO START OPERATIONS ON MAY 1 - MINING WEEKLY
Mining Weekly reported that, In line with expectations, the Richards Bay Coal Terminal (RBCT) had completed the R1,2-billion Phase V expansion ...
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- Parliament of New Zealand
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Deloitte Consulting - India
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- GMR Energy Limited - India
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- The University of Queensland
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- White Energy Company Limited
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
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