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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, 24 September 09
S.KOREA HYUNDAI STEEL TO BUY COAL FROM SIBERIA
Reuters reported that, South Korea's Hyundai Steel said on Wednesday it will buy a maximum of 300,000 tonnes of coal per year from Siberian Anthrac ...
Thursday, 24 September 09
NO IMPORTED COAL-BASED UMPPS: TATA POWER
Will wait until policy environment becomes more favourable.
Business Standard reported that, Tata Power Company (TPC), India’s largest priv ...
Thursday, 24 September 09
BUMI RAISES $1.9 BILLION SELLING DEBT TO CHINA'S CIC
Bloomberg reported that, PT Bumi Resources, Indonesia’s biggest coal producer, said it raised $1.9 billion selling debt to China’s sover ...
Thursday, 24 September 09
MACQUARIE DOWNGRADES U.S. COAL SECTOR TO NEUTRAL
Reuters reported that, Macquarie Research downgraded the U.S. coal sector to "neutral" from "overweight" as it believes that dem ...
Thursday, 24 September 09
CHINA WILL BE IMPORTER OF COKING COAL NEXT YEAR, MCCLOSKEY SAYS
Bloomberg reported that, China, the world’s largest coal user and producer, will remain an importer of the fuel through next year, according t ...
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- Latin American Coal - Colombia
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- Formosa Plastics Group - Taiwan
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- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
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- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
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- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
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- Georgia Ports Authority, United States
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- Meralco Power Generation, Philippines
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- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
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- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
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- Planning Commission, India
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- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
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- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- White Energy Company Limited
- Kumho Petrochemical, South Korea
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- CIMB Investment Bank - Malaysia
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- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
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- Meenaskhi Energy Private Limited - India
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- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
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- Heidelberg Cement - Germany
- VISA Power Limited - India
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
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- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
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- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
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- Leighton Contractors Pty Ltd - Australia
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- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
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- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
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- Global Coal Blending Company Limited - Australia
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- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Medco Energi Mining Internasional
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- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
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