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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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Tuesday, 22 February 11
SUPRAMAX MARKET IS IMPROVING IN THE PACIFIC
BRS - A 10% rise in the BDI this week, mostly on the back of Panamax rates and improvements in the Supramax market in the Pacific. For the Capes, ra ...
Monday, 21 February 11
CHURCHILL MINING RECEIVES SIGNIFICANT INTEREST, PROPOSALS TO DEVELOP EAST KUTAI COAL PROJECT - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining has received a number of specific proposals to fund and develop its massive East Kutai coa ...
Monday, 21 February 11
ABOLISH 5% DUTY ON COAL IMPORTS: SHINDE
Indian Express reported that, with acute coal shortage of domestic coal threatening to destabilise its power generation plans, the power ministry ha ...
Saturday, 19 February 11
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market was quite firm this week with freight rates in South east asia and India/Feast almost up by 30 pct.
However towards end ...
Thursday, 17 February 11
COAL-GEN EUROPE 2011 REAFFIRMS THE IMPORTANCE OF COAL
Press Release: The third COAL-GEN Europe conference and exhibition, kicked off on Tuesday 15 February, with leading experts, professionals and compa ...
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- Karaikal Port Pvt Ltd - India
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- IEA Clean Coal Centre - UK
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- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
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- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
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- Global Coal Blending Company Limited - Australia
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- Star Paper Mills Limited - India
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- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
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- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
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- Africa Commodities Group - South Africa
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- London Commodity Brokers - England
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- Chamber of Mines of South Africa
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- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Commonwealth Bank - Australia
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- Sinarmas Energy and Mining - Indonesia
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- Meenaskhi Energy Private Limited - India
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- Globalindo Alam Lestari - Indonesia
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- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
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- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Ministry of Finance - Indonesia
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- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
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- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
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- New Zealand Coal & Carbon
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
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- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- White Energy Company Limited
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
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