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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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Saturday, 30 April 11
BUKIT ASAM PROFIT HAS JUMPS 108 PERCENT IN Q1, 2011
The Indonesian state-controlled coal miner PT Bukit Asam Tbk (PTBA) reported a 108.07 percent jump in net profit during the first three months of 20 ...
Saturday, 30 April 11
THE PANAMAX WAS THE BIGGEST GAINER
COALspot.com - The freight market appeared to recover slightly after the Easter holidays. However they market may not move up much and likely to mai ...
Friday, 29 April 11
KOMIPO ISSUES TENDER FOR 710,000 MT OF LCV & HCV COAL
COALspot.com - Korea Midland Power Co. Ltd (KOMIPO) has issued a spot supply tender for supply of total 710,000 MT of thermal coal for delivery betw ...
Friday, 29 April 11
HARUM EYES IDR 2.58 TRILLION COAL TAKEOVER
PT Harum Energy Tbk (HRUM), that is controlled by Indonesian tycoon Kiki Barki, is poised to spend Rp 2.58 trillion (approximately US$ 301.296 mln) ...
Friday, 29 April 11
CHINA'S IMPORTS 27 PERCENT LESS COAL IN Q1 2011 - ICAP SHIPPING
ICAP Shipping reported that, China's coal imports in the first quarter were some 27% down on a year ago at 32.3 Mt (2010: 44.4 Mt). Part of the rea ...
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- TeaM Sual Corporation - Philippines
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- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
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- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
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- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
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- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
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- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
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- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
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- Goldman Sachs - Singapore
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- Star Paper Mills Limited - India
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- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
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- SN Aboitiz Power Inc, Philippines
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- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
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