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Monday, 15 February 10
MEC INFRA TO COMMISSION INDONESIA RAIL PROJECT
 A joint venture between Ras Al Khaimah Investment Authority (Rakia) RAK Investment Authority and Minerals Energy and Commodities Holdings, a fully owned subsidiary of Trimex — will commission Indonesia's first private rail project in early 2011, an MEC official told reporters yesterday.
"MEC Infra expects to commission the first cargo train in 2011 with the first phase of development expected to handle 32 million tonnes per annum capacity of coal.
"We have completed the land acquisition for the project and expect to sign the engineering procurement and commissioning (EPC) contract for the rail corridor by May this year," Madhu Koneru, executive vice-chairman of MEC Holdings told reporters.
MEC Infra obtained Indonesia's first private railway licence to develop a 130km integrated freight corridor between Muaran Wahau to the port Bengalon in Kalimantan province.
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"MEC Infra expects to commission the first cargo train in 2011 with the first phase of development expected to handle 32 million tons per annum capacity of coal”
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The rail project is developed as part of infrastructure development for a coal mining project undertaken by MEC Coal, a mining company jointly owned by RakiaRakia and MEC holdings.
MEC Coal is developing one of the largest green field coal mines in Asia, located in the East Kalimantan province of Indonesia.
In addition to exporting coal to India, China and the Middle East, the company is targeting to develop a domestic market for its coal output.
"We do not want to [be] purely dependent on exports. As part of our efforts to develop a captive market for our coal output we have tied up with National Aluminium Company of India to develop a 500,000 tonnes per annum capacity aluminium smelter near our mine," said Koneru.
MEC Coal will take 26 per cent equity stake in the $2 billion (Dh7.3 billion) smelter complex that will also include a 1,250 megawatt captive power plant.
As part of marketing the coal to its end users in India, MEC Coal is planning to enter equity swap deals with coal importers. Through these deals, MEC Coal proposed to take minority stakes in private sector coal based power producers in India while offering them minority stakes in MEC Coal.
Price stability
"This is an innovative structure we are introducing to bring price stability for coal over a long term. As stakeholders in both supply and demand side of coal business it should work to smoothen the impact of price fluctuations," he said.
MEC is negotiating a $1 billion financing of the infrastructure projects around the coal mine including the rail project with Infrastructure Leasing and Financial Services, an India-based infrastructure financing company.
In addition to coal mining and infrastructure development, MEC Holdings is exploring investments in the agriculture sector.
Source: Zawya
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Tuesday, 12 January 10
COAL PRICE FORECAST RAISED AT ANZ ON STRONGER CHINESE DEMAND
Power-station coal price forecasts for this year were raised 19 percent by Australia & New Zealand Banking Group Ltd. on rising demand from Chin ...
Tuesday, 12 January 10
BUMIS SALE CONTRACT ONLY REACHED 35 PERCENT
PT Bumi Resources has only completed 35 percent if its coal sale contract this year. “More than 65 percent of our sale volume did not have a c ...
Monday, 11 January 10
THE MARKET IS LIKELY TO BE STEADY - VISTAAR SINGAPORE
COALspot.com (Singapore): The freight market for the first week of the year was quite active and the market especially in the Panamax and Supramax s ...
Monday, 11 January 10
CHINAS COAL EXPORT MAY DECLINE 50% IN 2009
Preliminary data released by China's General Administration of Customs (GAC) on Wednesday showed that China's coal export reached 2.05 million ton ...
Saturday, 09 January 10
THE FAR EAST MARKET STARTED TO STABILIZE - FEARNLEYS
Handy
The FEAST market started to stabilize after the quite holidays and we saw growing activity fed by Chinese coal and iron ore imports and Indi ...
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- Baramulti Group, Indonesia
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- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
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- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
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- Australian Commodity Traders Exchange
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- Planning Commission, India
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- Economic Council, Georgia
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- Bangladesh Power Developement Board
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- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
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- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
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- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
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- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
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- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Global Green Power PLC Corporation, Philippines
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- Bahari Cakrawala Sebuku - Indonesia
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- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
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- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Altura Mining Limited, Indonesia
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- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Independent Power Producers Association of India
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- Electricity Generating Authority of Thailand
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- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
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- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
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- ASAPP Information Group - India
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- The University of Queensland
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- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
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- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
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- Karbindo Abesyapradhi - Indoneisa
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- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
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- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
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