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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 $4 billion on the aluminium smelter and power plant in Indonesia. The firm had signed a Memorandum of Association with the Indonesian government for the smelter in 2008.
The project was supposed to come onstream this year. However, it was marred by procedural delays in Indonesia. Nalco expects to maintain a 2:1 debt to equity ratio for the project.
Source: DNA India (By Shubhashish)
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Saturday, 18 September 10
ECI / CHINA FREIGHT ROUTE DOWN BY 1.22 PCT OR US$ 225 PER DAY AND CLOSED AT US$ 18,123 PER DAY - VISTAAR
COALspot.com: The BDI was under pressure this week and was almost down by 11 pct and closed at 2676 points.
The Cape and Panamax index was almost ...
Friday, 17 September 10
CWP COAL WASHING PLANTS MACHINERY LANDS ON RUSSIAN MARKET!!
Press Release: CWP Coal Washing Plants Machinery Industry & Trade Co. which was founded in 1990, has been operating in Izmir with its closed pro ...
Friday, 17 September 10
FREIGHT RATES TO DECLINE FURTHER - ICICI SEC
Broking firm ICICI Securities said tanker freight rates reported a sharp drop with rates of Suezmax and Aframax carriers declining by 16% to USD 8,6 ...
Friday, 17 September 10
R-POWER, ADANI, GMR TO BID FOR $1-BN MINE
Reliance Power, Adani Power and GMR are in the race for a coal mine asset in Australia. The valuation of the asset is close to $1 billion (Rs 4,600 ...
Thursday, 16 September 10
RPG GROUP BUYS 10% IN AUSSIE COAL FIRM RESOURCE GENERATION
Dealcurry reported that, India's RPG Group's Integrated Coal Mining Limited (ICML) has acquired 10% stake (18,268,053 shares) in Resource Generati ...
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- Minerals Council of Australia
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Planning Commission, India
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Xindia Steels Limited - India
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