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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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Monday, 30 August 10
DRY BULK MARKET STABILIZES, ALBEIT AT A FALLING NOTE
The dry bulk market’s leading benchmark, the Baltic Dry Index (BDI) ended the week at 2712 points, a marginal weekly loss of 1.6% or 44 points ...
Saturday, 28 August 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS FIRM FOR CAPE AND PANAMAX VESSELS - VISTAAR
COALspot.com: The freight market appeared to be heading for correction with the indices coming off during later part of the week. The BDI closed 44 ...
Saturday, 28 August 10
KRISHNAPATNAM PORT SETS AN ALL INDIA COAL DISCHARGE RECORD
COALspot.com: Krishnapatnam Port has established all new record for coal discharged in India using the conventional system of coal unloading for por ...
Friday, 27 August 10
PAKISTAN WILL IMPORT 8 TO 10 PERCENT MORE COAL IN 2011
COALspot.com: Pakistan to import 4 million ton of coal in 2011 up by 8-10 percent compare to this year’s imports. "Pakistan's tota ...
Thursday, 26 August 10
CHARTERERS SWITCHING FROM PANAMAX TO CAPE STEMS DUE TO CAPE FALL
Handy
The activity picked up in the Atlantic with more enquiries seen for short period tonnage for end August/beg September - As the grain season ...
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- Rashtriya Ispat Nigam Limited - India
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- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
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- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
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- Edison Trading Spa - Italy
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- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
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- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
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- Georgia Ports Authority, United States
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- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
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- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Electricity Generating Authority of Thailand
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- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
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- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
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- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
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- SN Aboitiz Power Inc, Philippines
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- Indonesian Coal Mining Association
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- Jorong Barutama Greston.PT - Indonesia
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- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
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- Indogreen Group - Indonesia
- Wilmar Investment Holdings
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- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Parliament of New Zealand
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- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
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- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Thiess Contractors Indonesia
- Minerals Council of Australia
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