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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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Monday, 20 June 11
KPCL SETS ALL INDIA & POSSIBLY A WORLD RECORD FOR COAL DISCHARGING
COALspot.com - Krishnapatnam Port has set an all India record for discharging 95,528 tons of steam coal in just 24 hrs using the conventional unload ...
Monday, 20 June 11
5TH ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK 2011 IS ON THE WAY
Press Release - Since the beginning of 2011, international commodity price has been in a high level, resulting in “TENSION” of energy co ...
Sunday, 19 June 11
S6 AND S7 ROUTES LIKELY TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The freight market seemed to be stabilizing and the BDI and Cape index was up marginally and closed at 1,423 points and 1,824 points ...
Sunday, 19 June 11
BUMI 1Q NET PROFIT INCREASES 16.5 PERCENT
PT Bumi Resources Tbk (BUMI), Indonesia's largest coal exporter that is 25% owned by London-listed Vallar Plc, reported a16.49% increase in net pro ...
Friday, 17 June 11
DRY BULK BREATHES SIGH OF RELEAF ON RENEWED CAPESIZE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has caught a sign of relief from the middle of the week onwards, as the BDI (Baltic Dry Index) increased once again yesterday, t ...
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- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
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- Meralco Power Generation, Philippines
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- Krishnapatnam Port Company Ltd. - India
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- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
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- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Australian Coal Association
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- Indian Energy Exchange, India
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- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
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- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Deloitte Consulting - India
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- The University of Queensland
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- Bhatia International Limited - India
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- Bangladesh Power Developement Board
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
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- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- White Energy Company Limited
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
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- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
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- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
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- Parliament of New Zealand
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
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- Minerals Council of Australia
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- Ministry of Finance - Indonesia
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- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
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