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Friday, 28 May 10
INDIAS NEYVELI LIGNITE EYEING INDONESIA, SOUTH AFRICA COAL MINES
 Integrated mining and power producer Neyveli Lignite Corporation Thursday said it is exploring possibilities for buying coal mines in Indonesia and South Africa.
The public sector company is also looking at setting up ultra mega power projects along the coast near here while scrapping its Orissa project and giving up nuclear and hydel power ambitions, said a top company official.
“We are exploring the possibilities of acquiring coal mines in Indonesia and South Africa so that we can set up thermal power plants along the coast and need not wait for coal linkages,” chairman and managing director A.R. Ansari told reporters here.
He said a 2.5 million tonnes per annum (mtpa) coal mine would cost around Rs.400 crore (US$ 86.067 million).
According to him, the company is not pursuing plans for nuclear power and a thermal power project in Orissa. It is now interested in setting up ultra mega thermal power projects.
“Nuclear power projects in India take inordinate time to complete, for example the Kudankulam power project. The response of the Orissa government to set up a power project there is very lukewarm and hence that plan may not take off,” he added.
He said the company is interested in setting up a 2,000 MW thermal power project along the Tamil Nadu coast - between Tuticorin and Chennai and also a 4,000 MW project at Cheyyar near here.
Ansari said a memorandum of understanding (MOU) with the Uttar Pradesh government is likely to be signed for setting up of a 2,000 MW thermal plant at Kanpur.
“Our idea is to increase the mining capacity to 79.85 mpta (lignite and coal) and power generation to 13,790 MW by the end of XII Plan period.
Ansari said one unit of 2×250 MW project in Neyveli will be commissioned this year and the second unit next March.
The company closed last fiscal with a turnover of Rs.4,121.03 crore (US$ 886.719) and a net profit of Rs.1,247.46 crore (US$ 268.415) as against Rs.3,354.91 crore (US$ 721.874 million) turnover and Rs.821.09 crore (US$ 176.673) net posted in 2008-09.(1 INR = 0.0215169 USD)
Source: Business News
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Wednesday, 26 May 10
ADANI GROUP EYES AFRICA FOR COAL MINING PROJECTS
India Info Line reported that, After acquiring coal mines for importing Indonesian coal to run its thermal power plants in the country, the Adani Gr ...
Wednesday, 26 May 10
DRY BULK MARKET SHOOTS UP, CLOSES IN ON POST-CRISIS ERA HIGHS
In an opposite trend than that of the previous week, the Baltic Dry Index (BDI), a benchmark for tracking costs to haul commodities at sea, shot up ...
Wednesday, 26 May 10
BUMI TO CUT UP TO USD 1 BILLION DEBT IN 12 MONTHS
Press Release : PT Bumi Resources Tbk. announced yesterday that it has revived its intent to issue non preemptive shares and added this to the agend ...
Tuesday, 25 May 10
COAL PRODUCTION MAY REACH 320 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce as much as 320 million tons of coal this year, an increase of nearly 7 perc ...
Tuesday, 25 May 10
KALIMANTAN COAL RAIL PROJECT RUNS INTO COST DELAY - THE JAKARTA GLOBE
The Jakart globe reported that, A$1.5 billion coal rail and port project planned for Central Kalimantan may be delayed by a year after a review of t ...
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