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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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Wednesday, 22 September 10
DRY BULK MARKET SENTIMENT TURNS SOUTH AS IRON ORE DEMAND DECLINES
The dry bulk market has once again turned the tide, with the industry’s benchmark, the Baltic Dry Index (BDI) turning south during the previou ...
Monday, 20 September 10
MMTC SEEKS TO BUY 1.3 MT OF COAL FOR INDIA UTILITIES - SXCOAL
MMTC Ltd., India’s largest state- owned trading company, is seeking bids for the supply of 1.3 million tonnes of coal to feed power plants run ...
Monday, 20 September 10
KANGAROO RESOURCES SIGNS PARTNERSHIP WITH ASEAMCO FOR INDONESIAN COAL ASSETS - PROACTIVE INVESTORS
International coal producer Kangaroo Resources (ASX: KRL) has completed a new three-year agreement with Australian mining consultants ASEAMCO to del ...
Monday, 20 September 10
ICVL LOOKS FOR COAL ASSETS IN UZBEK, INDONESIA, AUSTRALIA - ECONOMIC TIMES
Economic Times reported that, International Coal Ventures, or ICVL, the special purpose vehicle floated by five state-owned firms to scout for coal ...
Monday, 20 September 10
IRON-ORE SHIPPING DEMAND MAY GAIN ONCE CHINA STEEL CUTS FINISH, SSY SAYS
Demand to transport iron ore may rebound once China ends steel-production cuts and steel prices may gain in the next several months because of the r ...
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- Eastern Coal Council - USA
- ICICI Bank Limited - India
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- White Energy Company Limited
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
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