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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, 17 February 10
LAND OVERLAPPING UNAVOIDABLE
Land overlapping issues in the mining industry is unavoidable due to the availability of mineral, coal, and oil resources which are often located be ...
Wednesday, 17 February 10
JORONG COULD COST BANPU 5%
Banpu Plc, Asean's biggest coal miner, forecasts a 5% drop in revenue if its suspended coal mine in Indonesia is closed for one year, says presiden ...
Wednesday, 17 February 10
RUSSIA KRU JAN COAL EXPORTS DOWN 4 PCT
Kuzbassrazrezugol, Russia's second largest steam coal producer, exported 1.859 million tonnes of coal last month, down 80,000 tonnes or 4 percent f ...
Wednesday, 17 February 10
VEDANTA SET FOR PORTS ENTRY WITH VIZAG TENDER
Vedanta, along with Leighton Contractors India, quoted a revenue share of 38.1% to win the 30-year contract
Mining and metals conglomerate Vedant ...
Tuesday, 16 February 10
TRENDS DRY BULK MARKET ... TRENDS - BRS
The start of the Chinese New Year had an immediate impact on rates and for once all the dry bulk segments lost similar ground.
The BDI fell 5%, a ...
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- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Aditya Birla Group - India
- ASAPP Information Group - India
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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