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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, 23 October 10
HEAVY RAINS NO DAMPENER FOR 2010 COAL OUTPUT TARGET, MINISTRY SAYS - THE JAKARTA GLOBE
The Jakarta Globe reported that, National coal production would likely meet the target set by the Energy Ministry despite unusually heavy rain this ...
Thursday, 21 October 10
WORLDS FIRST, SINGAPORE EXCHANGE TO CLEAR OTC INDONESIAN COAL SWAP - MONDOVISIONE
Mondovisione reported that, Singapore Exchange (SGX) will be the first exchange in the world to clear over-the-counter (OTC) Indonesian Sub-Bitumino ...
Thursday, 21 October 10
MEC WOOS INDIAN POWER FIRMS FOR 50% STAKE SALE - BUSINESS STANDARD
Business-Standard reported that, Singapore-based MEC Coal plans to rope in an Indian power company as a 50 per cent equity partner. It is believed t ...
Thursday, 21 October 10
CAPESIZE, A FANTASTIC WEEK WITH IMPROVED RATES IN BOTH BASINS - FEARNBULK
Handy Activity remains slow this week combined with a lack of fresh enquiry in the Atlantic. Indexes are all negative except Cape but it is worth no ...
Wednesday, 20 October 10
BLENDING OF IMPORTED COAL AT THERMAL PLANT UP TO 30 % MAY BE ALLOWED - PUNJAB NEWS LINE
Punjab News Line reported that, Indian government is considering allowing increase in the blending ratio of imported coal from 10 to 30 percent at t ...
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- Baramulti Group, Indonesia
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- Global Coal Blending Company Limited - Australia
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- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
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- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
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- Wilmar Investment Holdings
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- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
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- Indonesian Coal Mining Association
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- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
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- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
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- Wood Mackenzie - Singapore
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- Thiess Contractors Indonesia
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- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
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- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
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- The State Trading Corporation of India Ltd
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- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
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- Economic Council, Georgia
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
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- Ministry of Transport, Egypt
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- Iligan Light & Power Inc, Philippines
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- Romanian Commodities Exchange
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- PowerSource Philippines DevCo
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- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
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- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
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