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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, 15 June 10
INDONESIA'S COAL EXPORTS FELL TO 18.52 - MILLION TONS IN MAY
COALspot.com: Indonesia, the world largest coal exporter, shipped 18,529,695 of coal in May 2010. May coal exports dropped by 20.61 percent co ...
Monday, 14 June 10
S. AFRICA BOOSTS COAL SALES TO INDIA 12%, TRADER SAYS
Bloomberg reported that, South Africa’s Richards Bay, the world’s second-biggest coal export harbor, boosted sales to India by 12 percen ...
Sunday, 13 June 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS AT AROUND CAPE/US$ 29000 PER DAY & PANAMAX/US$ 20500 PER DAY - VISTAAR
COALspot.com: The market continue to soften in all sectors and the most affected was cape size which was down by 16.32 pct. The BDI was down by 14.4 ...
Saturday, 12 June 10
BALTIC EXCHANGE ESTABLISHES ASIA-PACIFIC OFFICE
The London-based Baltic Exchange has today announced it is setting up an Asia-Pacific Representative Office in Singapore, to ensure closer contact w ...
Thursday, 10 June 10
CHARTERERS ARE NOT WILLING TO PAY THE RATES AS MARKET SLIDES
DRY BULK
Handy
Atlantic markets are quieter (Posidonia?) with less activity. Nevertheless expect some fresh enquiries f ...
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- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
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- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
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- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
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- The University of Queensland
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- SN Aboitiz Power Inc, Philippines
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- Electricity Authority, New Zealand
- Economic Council, Georgia
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- PowerSource Philippines DevCo
- Eastern Energy - Thailand
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- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
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- Petron Corporation, Philippines
- Singapore Mercantile Exchange
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- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
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- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
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- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
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- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
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- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
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- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
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- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Australian Coal Association
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
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- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
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- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
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- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
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- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
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- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
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- Billiton Holdings Pty Ltd - Australia
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- The Treasury - Australian Government
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- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
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- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Parliament of New Zealand
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