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Friday, 03 September 10
NALCO, INDONESIAN FIRM DIFFER ON COAL SUPPLY TO SMELTER - DNA INDIA
 A few days ago, National Aluminium Company (Nalco) advertised in Indonesian newspapers asking for companies to bid for coal supplies for its 500,000 tonne aluminium smelter in that country. If this is true, then what happened to its deal with MEC Coal, Indonesia?,DNA India reported.
DNA further said in it report, In April this year, Madhu Koneru, executive vice-chairman, MEC Coal, had told DNA that the company has signed a deal with Nalco to supplying 6 million tonne of unwashed coal for Nalco’s 5 lakh tonne aluminium smelter and 1,250 mw power plant. However, with the new advertisement by Nalco, MEC’s role in the project stands on a shaky ground.
In an e-mailed reply, MEC Coal told DNA, “Our agreement with Nalco still stands. Nalco, as a government organisation, is following the proper procedure for large investments and optimisation of infrastructure and resources is being assessed.”
When asked about supplying coal to Nalco’s Indonesian smelter, MEC said, “Yes, MEC plans to supply Nalco with 6 million tonne of coal.”
BL Bagra, director (finance), Nalco, however, has a different story to tell. He said that Nalco has no contract with MEC for coal supplies. “We had a MoU with RAK Minerals and Metals Investments (RMMI), the parent company of MEC Coal. The MoU was for a joint venture for the smelter and power plant. As part of the MoU, the company has an option of picking up 26% stake in the smelter and power plant but nothing was finalised on the coal supply front.” Bagra also said that the MoU nowhere stated that MEC had the right to coal linkages and was signed exclusively for a joint venture in the smelter and power plant.
He said that as a procedural requirement, Nalco had invited all coal miners to bid and MEC continues to be a potential JV partner and bidder for coal supplies. “It will take us 4 years to build the smelter and power plant and we are looking for companies which could build rail, port and other infrastructure by the time our project comes up,” Bagra said.
“MEC is very confident that they will meet all our requirements but we are expecting at least 8-9 companies to take part in the bidding.”
Nalco plans to spend $4 billion on the aluminium smelter and power plant in Indonesia. The firm had signed a Memorandum of Association with the Indonesian government for the smelter in 2008.
The project was supposed to come onstream this year. However, it was marred by procedural delays in Indonesia. Nalco expects to maintain a 2:1 debt to equity ratio for the project.
Source: DNA India (By Shubhashish)
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Friday, 15 October 10
VALUE ADDED TAX FOR COAL TO RE-INTRODUCE IN INDONESIA
COALspot.com: Indonesian government is drafting a ministerial decree to re-introduce value added tax for coal and mineral. Coalindo weekly news lett ...
Thursday, 14 October 10
COAL PRICES AT QINHUANGDAO PORT UP - CAPITALVUE
Capitalvue reported that, prices of steam coal yielding 5,500 kilocalories per kilogram (kcal/kg) in Qinhuangdao Port have risen five yuan to 715-72 ...
Thursday, 14 October 10
DRY BULK MARKET MAINTAINS POSITIVE TREND ON FIRMER CHINESE IRON ORE DEMAND
The dry bulk market has kept its upward trend set since last week, with the industry’s main benchmark, the Baltic Dry Index (BDI) rising to 2, ...
Tuesday, 12 October 10
DRY BULK MARKET LOOKING FOR DIRECTION AFTER WEEK OF CAPESIZE GROWTH
The dry bulk market ended Monday unchanged from Friday’s closing, today standing at 2,695 points. In summary, the capesize and the supramax se ...
Tuesday, 12 October 10
COAL SPOT TRADING MAY SOOTH PRICING CONFLICTS - GLOBAL TIMES
Global Times reported that, Tianjin-based Bohai Commodity Exchange launched steam coal for spot trading for the first time Monday. Steam coal is mai ...
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- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
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- Planning Commission, India
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- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
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- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
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- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Mjunction Services Limited - India
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- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
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- Samtan Co., Ltd - South Korea
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- Thai Mozambique Logistica
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- New Zealand Coal & Carbon
- Economic Council, Georgia
- Coal and Oil Company - UAE
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- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
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- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
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- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
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- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
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- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
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- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
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- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Marubeni Corporation - India
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- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
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- Australian Coal Association
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
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- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Carbofer General Trading SA - India
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