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Monday, 26 April 10
COAL INDIA NEARS PORT DEAL WITH VIZAG STEEL - DNA
 DNA India reported that, Coal India Ltd (CIL), the country’s largest coal producer, is close to signing a deal to acquire space at Vizag Steel’s port in Visakhapatnam.
Partha Bhattacharya, chairman, CIL, said the company will look to go in for joint venture or acquire parts of existing ports rather than setting up its own.
“We are more or less close to signing a deal with Vizag Steel to start with. RIL/RINL has moved out of Vizag Steel so that space has been offered to us and we have accepted it for our imports. Compensation needs to be discussed. A 4-5 million tonne capacity would be available to us at any point in time,” he said.
CIL has started talks with other ports, including Gangavaram, Dhamra, Krishnapattanam, and Kandla. DNA had reported on September 30, 2009 that CIL is looking at tying up with ports.
CIL is also looking at coal-bed methane and coal mine gasification projects, though Bhattacharya said the water contamination problem was a concern.
“As long as there is no definite solution (to the water contamination problem) we can’t risk it because we don’t have coal in barren places. But if there is any technology evolving anywhere in the world, we will take it. We are seriously looking at underground coal gasification projects,” he said.
Meanwhile, a CIL delegation will be visiting US-based Peabody Energy to close a deal that will give the Indian firm a stake in four Australian coal mines along with other overseas assets.
“We are going to tie up with them for certain amount of production for a ten year period. I believe they are ramping up to somewhere around 16-17 million tonne in four- five years and they remain at that level… that is the offer. Our participation would be in the equity stake with this offtake agreement and at a price substantially lower than the spot prices,” Bhattacharya said.
However, the deal with Rio Tinto in Australia seems a bit far off. “Rio Tinto was not really a subscriber to our theory. They are growing fairly fast and are looking at the export market. They are talking about a mutually beneficial joint venture, which we will look at. Primarily we want to bring coal faster into the country at clearly distinctly advantageous terms than spot imports. We will look at Rio later.”
But CIL’s surface-based coal gasification project with RCF and GAIL India is still in the pipeline, Bhattacharya asserted. A senior CIL official had earlier said that the coal block allotted for the same project had been given back.
“I wouldn’t say it has not taken off… Actually GAIL is doing the studies now. That gas will be converted into ammonium nitrate and urea. Ammonium nitrate is a feedstock for our explosives. Gail is the nodal agency for this and they were supposed to get a study done and technology feed and that’s on. The minister for fertilisers was very keen and he took a meeting on that. The project is very much on course.”
CIL is also undertaking ventilation air methane projects for which a tender has been floated. “It is a very interesting project. The exhaust air from gassy mines contains high amounts of methane, which is pushed into the atmosphere. This gas is 21 times more potent than carbon di oxide. If we can do something to absorb that methane, and it would be a CBM technology, it will earn us carbon credits.”
Source: DNA India (Reported By: Pooja Sarkar)
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Tuesday, 08 December 09
HIGH GLOBAL COAL PRICES HIT POWER PROJECTS
Spot prices for the fuel have appreciated almost 10% in November.
After a sedate year, rising coal prices could hit the coffers of import-based d ...
Monday, 07 December 09
HOW INDIA CAN CUT ITS ENERGY NEEDS BY 20%!
Using energy more efficiently can reduce our energy needs by one fifth; it is a strategy we must pursue even as we promote renewables, says Kirit Pa ...
Monday, 07 December 09
ASIA COAL POWER IN INDONESIA DISCUSSES NEW MINING LAW, COAL AND POWER SECTORS AS INVESTMENTS POUR INTO COALMINES TO SECURE SUPPLIES
COALspot.com (Singaproe): Press Release - Asia Coal Power pinpoints growing power demand in Asia & Power sector investments in Indonesia's coal ...
Monday, 07 December 09
DRY BULK RATES' VOLATILITY TO STAY, BUT RECOVERY IS UNDERWAY SAYS ION VAROUXAKIS HEAD OF FREESEAS
In an interview with Hellenic Shipping News, Mr. Ion G. Varouxakis, Chairman of the Board, President and CEO of Nasdaq-listed Freeseas, explains why ...
Monday, 07 December 09
VEDANTA RESOURCES ISSUES TENDER TO IMPORT 2.25 MILLION COAL
COALspot.com (India): Vedanta Resources plc is a London stock exchange listed FTSE 100 diversified metals and mining major with revenues in excess o ...
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- VISA Power Limited - India
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- White Energy Company Limited
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- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
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- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
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- Bharathi Cement Corporation - India
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- Tata Chemicals Ltd - India
- The Treasury - Australian Government
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- Parliament of New Zealand
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- Iligan Light & Power Inc, Philippines
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- Trasteel International SA, Italy
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- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
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- Eastern Coal Council - USA
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- Standard Chartered Bank - UAE
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- The University of Queensland
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- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
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- Planning Commission, India
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- Electricity Authority, New Zealand
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- Ministry of Mines - Canada
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
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- Mercator Lines Limited - India
- Chamber of Mines of South Africa
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- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
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- Altura Mining Limited, Indonesia
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- Baramulti Group, Indonesia
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- Kohat Cement Company Ltd. - Pakistan
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- Bukit Makmur.PT - Indonesia
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- Pipit Mutiara Jaya. PT, Indonesia
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- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
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- GMR Energy Limited - India
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
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- Economic Council, Georgia
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- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
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- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
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- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
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- McConnell Dowell - Australia
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- Sojitz Corporation - Japan
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- Indonesian Coal Mining Association
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- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
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