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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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Friday, 23 July 10
KOWEPO TO IMPORT ADDITIONAL 1.2 MILLION TONS OF INDONESIAN COAL WITHIN 5 MONTHS
Korea Western Power Company Limited has finalized around 1.2 million tonnes of Indonesian origin of coal last week. According to K ...
Friday, 23 July 10
THE PANAMAX MARKET HAS CONTINUED ITS SLOW CLIMB - FEARNLEYS
Handy
Continued flat Atlantic markets and over-supply of tonnage across all segments on spot basis. Nevertheless there is more fresh enquiry on Co ...
Friday, 23 July 10
KPMG INDIA FACES COAL DEFICIT OF 50% OF EXPECTED POWER PLANT DEMAND, SAYS - BLOOMBERG
Bloomberg reported that, India may face a coal shortfall of 189 million metric tons a year by 2015, about 50 percent of the power sector’s exp ...
Thursday, 22 July 10
BERAUS IPO NEXT MONTH CAN BECOME THE LARGEST THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s fifth largest coal miner PT Berau Coal Energy Tbk will launch its initial public offering (IPO) ne ...
Thursday, 22 July 10
DRY BULK MARKET EDGES HIGHER, BUT RECOVERY IS SLOW
The dry bulk market’s recovery, which started last Friday has sustained its momentum thus far, but the pace of it seems to be an agonizing one ...
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- Billiton Holdings Pty Ltd - Australia
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- Sojitz Corporation - Japan
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- Global Coal Blending Company Limited - Australia
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- Orica Australia Pty. Ltd.
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
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- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
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- Chamber of Mines of South Africa
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- Savvy Resources Ltd - HongKong
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- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Thai Mozambique Logistica
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- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
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- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
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- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
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- Bahari Cakrawala Sebuku - Indonesia
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- SN Aboitiz Power Inc, Philippines
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- Chettinad Cement Corporation Ltd - India
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- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
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- Ministry of Mines - Canada
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- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
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- Energy Link Ltd, New Zealand
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- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
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- Parliament of New Zealand
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