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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, 13 July 10
FURTHER LOSSES FOR BALTIC DRY INDEX ON HIGH VESSEL SUPPLY
The dry bulk market can’t catch a breath, as it has now entered the 7th straight week of losses. The industry’s benchmark, the Baltic Dr ...
Sunday, 11 July 10
OVERALL NO OR NEGLIGIBLE IMPACT IN ARUTMIN MINE - BUMI
COALspot.com: Bumi denies the media reports on an impact of unusually rains on coal production in BUMI mines.
"Arutmin is being impacted by ...
Saturday, 10 July 10
FREIGHT MARKET SITUATION MAY CONTINUE FOR NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com: The market continued to soften further with the cape and panamax index down by about 20 pct and closed at 2,102 and 1,944 points respe ...
Saturday, 10 July 10
STC OF INDIA TO ASSOCIATE WITH FUEL SUPPLIERS
COALspot.com: State Trading corporation of India, which is under Ministry of Commerce, has invited Expression of Interest from coal suppliers ...
Saturday, 10 July 10
SCOMI TO SELL STAKE IN INDONESIA OPS - THE STAR
The star online reported that, Scomi Marine Bhd will sell a stake in its marine logistics business in Indonesia to a large Indonesian company to dea ...
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- International Coal Ventures Pvt Ltd - India
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- Planning Commission, India
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- Ministry of Mines - Canada
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- Pipit Mutiara Jaya. PT, Indonesia
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- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
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- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
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- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
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- Standard Chartered Bank - UAE
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- Merrill Lynch Commodities Europe
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- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
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- Kartika Selabumi Mining - Indonesia
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- SMC Global Power, Philippines
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- Indian Energy Exchange, India
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
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- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Australian Coal Association
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
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- Billiton Holdings Pty Ltd - Australia
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- Romanian Commodities Exchange
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- Bhushan Steel Limited - India
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- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
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