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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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Tuesday, 31 August 10
CIL MAY SET UP POWER PLANT TO UTILIZE EXCESS COAL
The Economic Times reported that, the world's largest coal producer Coal India Ltd (CIL) said it may consider setting up power plants in the countr ...
Tuesday, 31 August 10
NALCO SEEKS STAKES IN INDONESIAN COAL MINES
Economic Times reported that, National Aluminium Co. Ltd said on Tuesday it wants to buy stakes in Indonesian coal mines to secure supplies fo ...
Tuesday, 31 August 10
CAPESIZE RATES ON VOLATILE MOVEMENT
With Monday a holiday for London’s stockmarket (Bank Holiday), the dry bulk market took a breather before presenting ship owners and charterer ...
Monday, 30 August 10
MUNDRA PORT BEGINS OPERATIONS AT NEW TERMINAL IN GUJARAT
Economic Times reported that, Adani group firm Mundra Port has commenced operations at its 20-million tonnes port at Dahej in Gujarat, the company s ...
Monday, 30 August 10
DRY BULK MARKET STABILIZES, ALBEIT AT A FALLING NOTE
The dry bulk market’s leading benchmark, the Baltic Dry Index (BDI) ended the week at 2712 points, a marginal weekly loss of 1.6% or 44 points ...
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- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
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- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
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- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- CNBM International Corporation - China
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Bhoruka Overseas - Indonesia
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