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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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Tuesday, 19 January 10
COAL FOR DOMESTIC USERS
While the government is already almost a year behind schedule in issuing regulations to implement the new mining law, mineral producers have been&nb ...
Tuesday, 19 January 10
RISING DEMAND FROM POWER FIRMS TO PUSH COAL PRICES
The resurgence of the Chinese economy, along with harsh winter conditions across the country, is likely to push coal prices up in the short term. In ...
Tuesday, 19 January 10
ESSAR'S MEGA ACQUISITION PLANS
India’s Essar Group has carved a mega plan that includes a slew of acquisitions and investments in assets across various businesses. CNBC-TV18 ...
Monday, 18 January 10
INDONESIA SHIPPED 15.90 PERCENT OF TOTAL COAL EXPORTS IN 2009 TO INDIA
COALspot.com (Indonesia): Indonesia, the world largest coal exporter, exported 19.07 percent of the total coal export in 2009 to China and 15. ...
Monday, 18 January 10
BHP TO SPEND $267 MILLION ON QUEENSLAND COKING COAL
BHP Billiton Ltd, the world’s largest mining company, will spend $267 million to accelerate development of the Caval Ridge mine and the Hay Po ...
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- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
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- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
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- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
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- Posco Energy - South Korea
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- Meenaskhi Energy Private Limited - India
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- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
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- Sojitz Corporation - Japan
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- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
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- Indonesian Coal Mining Association
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- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
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- The State Trading Corporation of India Ltd
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- Bharathi Cement Corporation - India
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- Eastern Energy - Thailand
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
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- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
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- Thiess Contractors Indonesia
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- Standard Chartered Bank - UAE
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- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
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- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
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- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
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- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
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- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
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- Trasteel International SA, Italy
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- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- White Energy Company Limited
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
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- Commonwealth Bank - Australia
- Parliament of New Zealand
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- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
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- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
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- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Electricity Generating Authority of Thailand
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- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Anglo American - United Kingdom
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- Georgia Ports Authority, United States
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- Australian Coal Association
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- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
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- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
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- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
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