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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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Thursday, 19 May 11
INDONESIAN COAL EXPORTS DROP 7.98 PERCENT IN APRIL
COALspot.com - Indonesian coal exports dropped to 2.168 million tons in April, and up 7.13 percent on the year and 7.98 percent below March, a ...
Thursday, 19 May 11
OVERSUPPLY, VERY LARGE ORE CARRIERS EAT UP ON DRY BULK FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a brief upward momentum which ended early last week, the Baltic Dry Index, the dry bulk market’s benchmark has returned to its usual pat ...
Wednesday, 18 May 11
THE US COAL INDUSTRY LOGGED EXPORTS OF AROUND 25M TONNES IN 1Q OF 2011 - BRS
Another slow decline in the bulk markets this week, with the BCI losing the most at nearly 5%, the BPI 2.8% and the smaller sizes sub-1% amounts. Th ...
Wednesday, 18 May 11
AKR AIMS TO SELL COAL WORTH RP216 BILLION - PAPER
Bisnis Indonesia, an Indonesia's one of the leading business paper reported that, PT AKR Corporindo Tbk has targeted coal sales valued at Rp216 bil ...
Wednesday, 18 May 11
OVERHAUL OF MINING LAW MAY DETER INVESTMENT, S&P SAYS - THE JAKARTA GLOBE
The Jakarta Globe, an Indonesian English language news paper reported that, A report by Standard & Poor’s Ratings Services that a regulatory ...
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- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
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- ICICI Bank Limited - India
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- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
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- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
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- Standard Chartered Bank - UAE
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- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
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- Agrawal Coal Company - India
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- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Siam City Cement PLC, Thailand
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- Gujarat Mineral Development Corp Ltd - India
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- Indian Oil Corporation Limited
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- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
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- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
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- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
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- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
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- New Zealand Coal & Carbon
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- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
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- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
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- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- The University of Queensland
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- Independent Power Producers Association of India
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- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
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- Interocean Group of Companies - India
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- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
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- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
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- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
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- Directorate Of Revenue Intelligence - India
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- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
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- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
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