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Saturday, 12 June 10
NALCO TO ROPE IN PARTNERS FOR INDONESIA PROJECT
 Sify reported that, the public sector National Aluminium Company (Nalco) is set to finalise the terms of its joint venture (JV) agreement with two foreign partners for a Rs 18,000 crore smelter and power plant project in Indonesia within next couple of months.
The company intends to tie up with Pt Antam, a government owned mining company of Indonesia and MEC (Middle East Coal) promoted by Ras Al Khaimah Minerals and Metals Investment of UAE for the project.
The Indonesian project, billed as a key growth driver for Nalco, is part of the company’s Rs 40,000 crore expansion plan incorporated in its Vision 2020 document.
The project comprises of setting up of a 0.5 million tonne per annum aluminium smelter and 1260 Mw captive power plant (CPP) over 6,000 acres of land in East Kalimantan province of Indonesia.
Though both the foreign partners are keen to have 40 per cent shares each, Nalco, with its role as the lead promoter, will hold at least 50 per cent stake in the project and can only allow them less than 50 per cent shares combinedly, said B.L. Bagra, director, finance, Nalco.
The finalization of the terms of the JV agreement will be followed up with preparation of detailed project report (DPR) for the venture. The company had recently invited bids for appointment of consultant for DPR and Tata Consulting Engineers, Dastur & Co, Engineers India (EIL) and Canadian firm, SNC Lavlin are vying for this Rs 5 crore contract.
The JV agreement is a pre-curser to DPR as this will provide a clear picture on the cost to be borne towards procurement of coal and transportation.
While the company expects the partnership with the Indonesian government company Pt Antam will help the project to sail smoothly in that country, the tie up with MEC, which operates coal mines, rail lines and port in East Kalimantan province, will be strategic in securing raw material supply and transport infrastructure for the smelter and power plants.
With the debt equity ratio of the Rs 18,000 crore-project being pegged at 70: 30 and Nalco intent on having at least 50 per cent stake in it, the equity exposure of the company is estimated at around Rs 2,700 crore.
After the JV agreement and finalization of DPR, the company will seek the approval of its board and the government for equity investment and approach foreign financial institutions for financing the project.
The debt component at Rs 12,400 crore being a sizeable amount, the company will seek international consortium financing, Bagra said.
With the DPR expected to take about 8 months to prepare, the work on the project is expected to start within a year from now, he added.
Source: SIFY(By:Dillip Satapathy)
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Sunday, 10 July 11
PTBA INCREASES SHARES IN COAL TRAIN PROJECT - TEMPO INTERACTIVE
TEMPO Interactive reported that, PT Tambang Batubara Bukit Asam (PTBA) is still studying the plan to buy 20 percent of shares in the PT Bukit Asam T ...
Sunday, 10 July 11
DRY BULK MARKET SHOWING SIGNS OF IMPROVEMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Stronger Capesize demand has helped propel the dry bulk market forward this week, with the Baltic Dry Index (BDI) ending yesterday’s session u ...
Sunday, 10 July 11
INDONESIAN BAYAN RESOURCES TO SUPPLY 100 MILLION TONS OF COAL TO INDIAN UNIVERSAL SUCCESS ENTERPRISES LIMITED
Coal miner PT Bayan Resources Tbk (BYAN), that is owned by Dato' Low Tuck Kwong, has entered into a conditional sales and purchase agreement to sup ...
Thursday, 07 July 11
BELOW 5100 COAL WILL BE BANNED FOR EXPORT BY 12 JANUARY 2014
COALspot.com - Indonesian government is in the process of drafting an amendment for government regulation 23/ 2010.
GR 23/2010 has issued to sup ...
Wednesday, 06 July 11
ATLAS RESOURCES TO OFFLOAD 17 PERCENT IPO - INSIDER STORIES
Coking and thermal coal miner PT Atlas Energi Resources aims to offload 17percent new shares of its enlarged capital after Eid-Fitri holidays, as qu ...
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- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
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- Indonesian Coal Mining Association
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- Economic Council, Georgia
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- Australian Coal Association
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- Renaissance Capital - South Africa
- MS Steel International - UAE
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- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
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- Global Green Power PLC Corporation, Philippines
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- Indian Energy Exchange, India
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- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
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- Chamber of Mines of South Africa
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- Posco Energy - South Korea
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
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- Singapore Mercantile Exchange
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- Merrill Lynch Commodities Europe
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- Ministry of Mines - Canada
- Indika Energy - Indonesia
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- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
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- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
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- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
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- Ambuja Cements Ltd - India
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- Parliament of New Zealand
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- Siam City Cement - Thailand
- Anglo American - United Kingdom
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- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
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- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
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- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
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- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
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