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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, 02 July 10
PROPOSED MINERAL RESOURCE RENT TAX - PRESS RELEASE (2)
Press Release: BHP Billiton, Rio Tinto and Xstrata said today that they are encouraged by the Federal Government’s announcement that it propos ...
Friday, 02 July 10
MINERALS RESOURCE TAXATION IN AUSTRALIA - PRESS RELEASE
Press Release : Rio Tinto acknowledges the Australian Government’s announcement that the Resource Super Profits Tax (RSPT) proposal will be re ...
Thursday, 01 July 10
TATA POWER TO RAISE US$300 MILLION THROUGH ITS COAL SPVS TO FUND ADDITIONAL ACQUISITIONS AND / OR REDUCE OUTSTANDING DEBT
Stock Markets Review reported that, Tata Power, India’s largest private power player has signed an agreement to raise US$300 million in Bhira ...
Thursday, 01 July 10
HELLENIC SHIPPING NEWS POLL: THE BDI WILL STAY ABOVE 3,000 POINTS IN THE SECOND HALF OF 2010
When Hellenic Shipping News Worldwide prepared June’s poll asking readers about where do they think that the Baltic Dry Index (BDI) will range ...
Thursday, 01 July 10
PANAMAX MARKETS CONTINUE TO DROP IN ALL BASINS - FEARNLEYS
Handy
Atlantic rates continue to slide with little activity. Supras open in USG get low 30´s to Med and mid 40´s to FEast. Hmax/Supra ...
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- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- PTC India Limited - India
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
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