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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, 17 April 11
THE FREIGHT MARKET APPEARS WILL CONTINUE TO BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - "The freight market continued to soften further with all segments down except for the handy size which was marginally up by 10 p ...
Sunday, 17 April 11
ADARO TO PROPOSE US$75 MILLION DIVIDEND
COALspot.com - One of Indonesia's largest coal miner PT Adaro Energy Tbk (ADRO) is keen to propose a final dividend of US$75 million or Rp 20.17 (U ...
Saturday, 16 April 11
TNPL RECEIVES 1.6MT OF COAL OFFERS - SOURCES
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. has closed its 160,000 MT coal inquiry today.
More than a half a dozen of Indian coal t ...
Friday, 15 April 11
DRY BULK MARKET KEEPS ON FALLING, ON LOW DEMAND AND HIGH SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its falling patern this week, with the industry’s benchmark, the Baltic Dry Index (BDI) retreating again yesterda ...
Thursday, 14 April 11
SUPRAS IN N.CHINA GET CLOSE TO $12000 FOR TRIPS VIA INDONESIA TO INDIA - FEARNBULK
Handy
The Atlantic market remains flat - very little new/fresh business and slow activity. Considerable prompt tonnage remains unfixed. The USG pa ...
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- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
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- Kalimantan Lumbung Energi - Indonesia
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- Africa Commodities Group - South Africa
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- Indonesian Coal Mining Association
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- Indian Energy Exchange, India
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- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
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- The State Trading Corporation of India Ltd
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- Singapore Mercantile Exchange
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- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
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- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
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- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
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- Parry Sugars Refinery, India
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
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- Metalloyd Limited - United Kingdom
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- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- PTC India Limited - India
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
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