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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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Thursday, 10 June 10
R-POWER, INDONESIA'S SUGICO INK PACT TO ACQUIRE COAL MINES - ECONOMIC TIMES
Economic Times of India reported that, Anil Ambani-owned Reliance Power has signed a share-sale agreement with Indonesia’s Sugico Group to acq ...
Thursday, 10 June 10
PARAMOUNT MINING CORPORATION REPORTS KEY INDONESIAN JV AGREEMENT
Indonesia focussed Paramount Mining Corporation has reported that its Indonesian subsidiary, PT Paramindo, has concluded a Joint Venture Agreem ...
Wednesday, 09 June 10
INDIA, CHINA TO PROP UP THERMAL COAL DEMAND - COMMODITY ONLINE
Commodity Online : Weakness in thermal coal demand in OECD will continue to be offset by growth in demand in India and China. Therefore, the s ...
Tuesday, 08 June 10
TATA POWER LOOKING TO PICK UP STAKE IN OVERSEAS COAL MINES - ECONOMIC TIMES
Economic Times reported that, Tata Power is looking for a strategic stake purchase in coal mines of Indonesia or South Africa to fuel its upcoming 1 ...
Tuesday, 08 June 10
RUSSIA REPORTED A TENFOLD GROWTH IN COAL EXPORTS TO CHINA IN 1Q 2010 - BRS
A retreat for all the dry bulk segments this week, but especially for the Panamax and Supramax markets. The Panamax 4TC remains over US$30,000/day h ...
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- Wood Mackenzie - Singapore
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- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
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- Indogreen Group - Indonesia
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Toyota Tsusho Corporation, Japan
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- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
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- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
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- Orica Mining Services - Indonesia
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- The University of Queensland
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- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
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- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
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- Medco Energi Mining Internasional
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- Planning Commission, India
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- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
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- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
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- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
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- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Australian Coal Association
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- SMC Global Power, Philippines
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- Bangladesh Power Developement Board
- White Energy Company Limited
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- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
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- Sical Logistics Limited - India
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- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
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- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
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