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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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Wednesday, 31 March 10
COAL INDIA MULLS JOINT VENTURE WITH RIO TINTO AND PEABODY - DNA
DNA reported that, Coal India Ltd. (CIL) has finalised two key contenders for its international joint venture (JV) in Australian and US each. The co ...
Wednesday, 31 March 10
DRY BULK MARKET STILL MODERATELY FALLING, BUT POSITIVE SIGNS APPEAR ON THE HORIZON - HELLENIC SHIPPING
The irregularities of the current dry bulk market have been more than evident in the fact that panamax vessels today earn more than their larger cap ...
Wednesday, 31 March 10
INDIKA ENERGYS PROFIT HIT BY FOREX LOSS AND CABOTAGE - THE JAKARTA GLOBE
The Jakarta Globe reportd that, PT Indika Energy posted a 30 percent drop in 2009 net profit due to a foreign exchange loss and impairment of intang ...
Wednesday, 31 March 10
ITMG TO UP COAL OUTPUT DESPITE PERMIT PROBLEMS - THE JAKARTA POST
The Jakarta Post reported that, the country’s third largest coal producer PT Indo Tambang Raya Megah (ITMG) said it can raise output although ...
Tuesday, 30 March 10
ANALYST SEES BDI LIFT, SUGGESTS DRY BULK SHORT SQUEEZE
Analysts at Credit Suisse are bullish on Diana and see a potential short squeeze elsewhere in the sector. The Baltic Dry Index (BDI) -- an industry ...
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- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- The University of Queensland
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
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