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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 Vedanta Resources Plc, controlled by Anil Agarwal, looks set to enter the ports business after submitting the best bid in the tender to upgrade and mechanize a general cargo berth to handle coking coal and steam coal at the Union government-owned port at Visakhapatnam, or Vizag, in Andhra Pradesh.
The price bid for the Rs 600 crore (US$ 130,420,614) project with a capacity to handle 10.18 million tonnes (mt) of coking and steam coal was opened on Monday.
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“Vedanta, along with Leighton Contractors India, quoted a revenue share of 38.1% to win the 30-year contract”
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The London Metal Exchange-listed Vedanta Resources is Agarwal’s holding company and owns controlling stakes in Sterlite Industries India Ltd, Hindustan Zinc Ltd, Sesa Goa Ltd, Vedanta Aluminium Ltd and Konkola Copper Mines Plc in Zambia.
Vedanta, which bid for the project with Leighton Contractors (India) Pvt. Ltd, quoted a revenue share of 38.1% to win the 30-year contract, said an official at Vizag port who did not want to be named as the process wasn’t complete. The board of Vizag port will meet in the next few days to approve the bid, the port official said.
The bidder willing to share the highest percentage of annual revenue with the government-owned port will be given the contract, according to rules for the award of public-private partnership projects auctioned by the Union government in the sector.
The Tariff Authority for Major Ports, the tariff regulator for 11 of the 12 Central government ports such as Vizag, has approved a coal-handling rate of Rs 131.94 (US$ 2.86) per tonne at the new berth. Vedanta’s quote would mean it will share Rs 50.26 (US$ 1.09) of the revenue earned from handling each tonne of cargo.
Vedanta could not be immediately reached for comment.
Mundra Port and Special Economic Zone Ltd, which runs India’s biggest private port at Mundra in Gujarat, quoted 32.09%. A consortium comprising IL&FS Maritime Infrastructure Co. Ltd and ABG Ports Ltd quoted a revenue share of 31.97%. Others in the race for the project were Gammon Infrastructure Projects Ltd and Vadinar Oil Terminals Ltd. Larsen and Toubro Ltd, another shortlisted bidder, backed out without bidding.
“It is a very aggressive bid,” said a rival executive, who asked not to be identified.
Besides this deal, Vedanta is one of the shortlisted bidders for a Rs 1,407 crore (US$ 305,836,340) container terminal at the Union government-owned Ennore port in Tamil Nadu. The group has also filed a so-called expression of interest to develop and operate a Rs 6,700 crore (US$ 1,456,363,525) container terminal at Jawaharlal Nehru Port, India’s busiest container port, near Mumbai.
Apart from ports, Agarwal last year announced his intention to enter the steel business with a partner. The group also has plans to build power plants that can produce 11,000MW of electricity with an investment of some Rs 45,000 crore (US$ 9,781,546,068).
The Union government controls a dozen big ports that together handled 530.53 mt of cargo in the year ended March, accounting for some 72% of India’s external trade shipped by the sea route.
The government plans to double the cargo handling capacity of the 12 ports to 1,016 mt by 2012 from 574.77 mt as economic growth strains existing facilities.
The additional 442 mt capacity will require an investment of close to Rs 55,804 crore (US$ 12,129,986,595) , out of which Rs 36,868 crore (US$ 8,013,912,009) will come from the private sector and the balance from the internal resources of the ports and government budgetary support, according to the shipping ministry. (1 USD = 46.0050 INR)
Source: Livemint
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Tuesday, 16 February 10
KPMG PENS 6-POINT STRATEGY FOR COAL INDIA RESTRUCTURING
Coal India Ltd (CIL) has appointed KPMG Advisory Services Pvt Ltd to advise on consolidating its position as the country’s prime energy provid ...
Monday, 15 February 10
MINING LAW TO BE REVISED
Law No. 4 of 2009 on mineral and coal mining will be revised after a working visit of the Bangka Belitung (Babel) Provincial legislative assembly (D ...
Monday, 15 February 10
EURO COAL PRICES SOFTEN AS CHINESE LUNAR NEW YEAR HOLIDAYS START
Prices of prompt cargoes of coal for delivery into Europe weakened last week on a lack of European demand and market nerves over the possible impact ...
Monday, 15 February 10
INDONESIAN COAL SUFFERS SETBACK AS SUMATRA RAIL LINE HELD UP AGAIN
State-owned coal miner PT Tambang Batubara Bukit Asam’s $1.06 billion rail project in Sumatra faces more delays, and the cost of the project i ...
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 f ...
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- Karbindo Abesyapradhi - Indoneisa
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- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Interocean Group of Companies - India
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- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Renaissance Capital - South Africa
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- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
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- Medco Energi Mining Internasional
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- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
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- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
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- Australian Commodity Traders Exchange
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- Indonesian Coal Mining Association
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- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
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- Ministry of Transport, Egypt
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- Chamber of Mines of South Africa
- The Treasury - Australian Government
- India Bulls Power Limited - India
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- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
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- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
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- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
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- The University of Queensland
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- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
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- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
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- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
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- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
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- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
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- SMG Consultants - Indonesia
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- Parry Sugars Refinery, India
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
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- PowerSource Philippines DevCo
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Economic Council, Georgia
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- Bulk Trading Sa - Switzerland
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- Global Coal Blending Company Limited - Australia
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- Petrochimia International Co. Ltd.- Taiwan
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- Samtan Co., Ltd - South Korea
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- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Australian Coal Association
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- Dalmia Cement Bharat India
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- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
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