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Friday, 20 August 10
POWER COS SEEK MINING PARTNERS TO BID FOR 1,920-MW PROJECT
 "A joint venture between the Maharashtra and Tamil Nadu governments for a pit-head power project, has been allotted the biggest coal block yet given for a project to be competitively bid", as reported by business-standard of India
The block, located in Raigarh district of Chhattisgarh, has reserves of 768 million tonnes. The coal block allotted for the Sasan ultra mega power project (in Madhya Pradesh) has around 750 mt. The miner-cum-power developer who would win the project will have to put up a 1,920 Mw power project. Half the power produced can be sold on a merchant basis, while the other half should be sold to Maharashtra and Tamil Nadu state electricity boards. The extra coal from this mine has to be diverted back to the joint venture company.
Industry sources say the high technical qualification norms might not allow many companies to qualify. Bidders should have at least three years experience in mining 10 million tonnes in the past three years, either in India or abroad. Bidders who have been selected to develop a coal mine with geological reserves of 250 mt are also qualified.
Some power companies like Reliance Power, Indiabulls have experience in developing coal mines, as a part of pit-head projects. But many companies will have to scout for coal mining partners to jointly bid for this project. “We are looking to partner with Indonesian coal mining companies,” said an official who is planning to bid for the project.
Analysts say Indian power companies have traditionally never engaged in coal mining and, hence, most of them lack experience. “Indian power companies normally get coal either from Indonesia, trading companies or Coal India. Most of them do not have any experience in mining. But a few players have started entering the field now, like JSW Energy or Reliance Power,” said Rupesh Sankhe, analyst, Angel Broking.
The project criterion also demands that the bidder should have either implemented or have under implementation projects with a capital cost of at least
Rs 10,000 crore or 2,000 Mw in the past seven years. Further, the company must have achieved financial closure of Rs 6,000 crore.
The project also has a unique financial requirement, that asks bidders to have Rs 400 crore in the form of fixed deposits, liquid mutual funds or fixed maturity plan investments. “These conditions are very tough. Other projects do not ask for these kind of conditions,” said another prospective bidder.
Analysts say while qualifications norms are tough, it is likely this project could generate a lot of interest, as the investment climate is very positive in the power sector. Many power companies have achieved financial closures of their projects and are ready to take on new commitments.
“Reliance Power has already achieved financial closures of two power projects, Lanco has tied-up for its near-term requirements, Tata Power has enough internal accruals, NTPC is sitting on a lot of cash; Adani Power has started operations in its Mundra power project,” said Sankhe.
Source: Business-Standard
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Thursday, 30 September 10
INDONESIAN COAL FOR POWER PLANT - LANKA GAZETTE
Lanka Gazette reported that, A cargo vessel with coal on board to generate electricity for the Norochcholai Coal Power Plant will arrive in Sri Lank ...
Thursday, 30 September 10
DRY BULK MARKET HEADS SOUTH ONCE MORE WITH MARKET SENTIMENT TAKING A CAUTIOUS APPROACH - HELLENIC SHIPPING
The dry bulk market didn’t manage to maintain the slightly upward momentum it had established during the first two session of the week, with t ...
Wednesday, 29 September 10
MOZAMBIQUE: COAL IN THREE MORE TETE DISTRICTS
All africa reported that, Coal deposits have been confirmed in the districts of Changara, Cahora Bassa and Magoe, in the western Mozambican province ...
Tuesday, 28 September 10
MMTC TO AWARD CONTRACT TO CEPL AND KNOWLEDGE TO SUPPLY 0.835 MILLION TONS OF IMPORTED COAL
COALspot.com: MMTC, India’s state owned trading company has opened three coal purchase tenders today.
According to our market sources, Coas ...
Monday, 27 September 10
DRY BULK: FREIGHT RATES CONTINUE TO FALL ON LOW ACTIVITY - HELLENIC SHIPPING
The dry bulk market didn’t manage to change its fortunes during the past week, with holidays across many Asian countries, predominantly China, ...
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- Formosa Plastics Group - Taiwan
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- PTC India Limited - India
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- Indian Energy Exchange, India
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- Indonesian Coal Mining Association
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- Coal and Oil Company - UAE
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- Australian Commodity Traders Exchange
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- CNBM International Corporation - China
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- Kohat Cement Company Ltd. - Pakistan
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- OPG Power Generation Pvt Ltd - India
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- Posco Energy - South Korea
- Bangladesh Power Developement Board
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- Rio Tinto Coal - Australia
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- SMC Global Power, Philippines
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- Eastern Coal Council - USA
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- Pipit Mutiara Jaya. PT, Indonesia
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- Ministry of Finance - Indonesia
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- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
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- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
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- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Romanian Commodities Exchange
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- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
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- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
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- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
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- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
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