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Thursday, 21 January 10
MEC IN TALKS WITH TATA POWER ON COAL - TRADE
.jpg) The UAE's Middle East Coal is in talks to supply coal to Tata Power, India's biggest private sector power firm, from its new Indonesian operations, an industry source said on Wednesday.
The long-term supply deal would be in exchange for an equity stake in Tata, the India-based source who is familiar with the talks, said.
Middle East Coal (MEC) is a joint venture between United Arab Emirates' investment fund RAK Minerals and Metals Investments (RMMI) and UAE-based mining company Trimex.
"There are talks going on between MEC and Tata Power for the shipping of coal from Indonesia to India from MEC's new project there," the industry source said, declining to be identified.
MEC plans to start operation of coal mines in Indonesia's coal-rich East Kalimantan province this year with initial production of 2 million tonnes destined for India. The supply deal would help MEC find the $500 million in financing it needs for the project which has an estimated cost of $1 billion.
A senior MEC official declined to comment on the Tata talks.
"We held talks with five of India's top energy companies about supplying them with coal," said Madu Koneru, vice chairman of Middle East Coal, declining to name the companies involved.
"The announcement of the company names will be sometime in March and we are also in talks with companies in China."
Tata Power also declined to comment on any talks with MEC.
"We are exploring different options for our coal requirements in Indonesia and elsewhere," a spokesman from Tata Power told Reuters in an email.
RMMI won a licence in March to build a 150 km (93 miles) rail link carrying coal from a mine in East Kalimantan to a coal terminal.
MEC plans to start shipments of 3 to 5 million tonnes of thermal coal via road. Once the rail project is complete, shipments would rise to 17 million tonnes.
Of the 17 million tonnes, 10 million would be shipped to India, 7 million to China and the remaining two million tonnes to the UAE's northern emirate of Ras al-Khaimah, home to RMMI.
PROJECT PARTNERS
MEC's mine and railway are central to the development of an industrial facilities complex that will include a power plant fuelled by coal, an aluminium smelter, a fertiliser plant and a high capacity port terminal with a total investment valued at $5billion, said an MEC company statement.
Together with equity partner NALCO, an Indian government entity and Asia's largest integrated aluminium complex, MEC plans to invest $2 billion in a greenfield aluminium smelter producing 500,000 tons of aluminium a year, the statement added.
A further $2 billion investment will build a 1,250 mega watt captive power plant and other auxiliary facilities for the smelter, it said.
On the railway project MEC had partnered with CANAC, a Canadian railway and transportation services firm for railway and port operations and maintenance.
IL&FS Transportation Networks Limited, (ITNL) a subsidiary of India's Infrastructure Leasing & Financial Services (IL&FS) Group would provide MEC with financing to build the transportation infrastructure, railway network and deep sea port.
"The agreement is on a build, finance and transfer basis and MEC and IL&FS Group hold a shared vision of bringing coal to India," said MEC's Koneru.
Coal production in East Kalimantan accounts for over half of Indonesia's total coal output, forecast to reach around 230 million tonnes this year. Indonesia is the world's top exporter of thermal coal.
Source: Reuters / Yahoo
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Wednesday, 03 February 10
INDONESIA BUKIT ASAM SEES DOUBLE DIGIT 2010 REV GROWTH
* 2009 net profit rose an estimated 50 pct
* Sees opportunities for overseas acquisitions
Indonesian state-owned coal miner Bukit Asam saw 2009 ...
Wednesday, 03 February 10
RECOVERY IN INDONESIAN MINING SECTOR EXPECTED TO BOOST SALES, UNITED TRACTORS SAYS
PT United Tractors, the country’s biggest supplier of heavy equipment, said on Tuesday that it expected sales to increase 15 percent this year ...
Tuesday, 02 February 10
THAI BANPU SAYS HIGHER COSTS TO HIT COAL PROFITS
Thailand's top coal miner, expects profits from its coal business in 2010 to be lower than last year due to higher costs, but its chief executive i ...
Monday, 01 February 10
CIL PLANS TO INVEST IN OVERSEAS COAL MINES
Over the next 10 years, CIL expects to import from these mines at least 500 million tonnes of thermal coal, a variety used by power plants
The bo ...
Sunday, 31 January 10
AUSTRALIA NEWCASTLE THERMAL COAL FALLS 0.7 PERCENT TO $ 98.53
Power-station coal prices at Australia’s Newcastle port, a benchmark for Asia, declined 0.7 percent, falling for the first time in four weeks. ...
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- Directorate General of MIneral and Coal - Indonesia
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- Global Green Power PLC Corporation, Philippines
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- Merrill Lynch Commodities Europe
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- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
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- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
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- Tamil Nadu electricity Board
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- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- The University of Queensland
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
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- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
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- Therma Luzon, Inc, Philippines
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- Orica Australia Pty. Ltd.
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- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Central Electricity Authority - India
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
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- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
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- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Australian Coal Association
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
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- Independent Power Producers Association of India
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- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
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- Australian Commodity Traders Exchange
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- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
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- Bangladesh Power Developement Board
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- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
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- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
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- Energy Link Ltd, New Zealand
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