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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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Thursday, 15 July 10
IRON ORE PRICING MECHANISMS PUT ON THE SPOT
THE new iron ore pricing mechanisms that killed off the annual benchmark system are coming under pressure. The spot price of the steel feed has fall ...
Thursday, 15 July 10
NTPC TO PURSUE COAL MINE ACQUISITION IN AUSTRALIA, INDONESIA - BUSINESS STANDARD
Business-Standard reported that, NTPC, the India’s largest power producer, has set the ball rolling to acquire coal mines or form joint ventur ...
Wednesday, 14 July 10
SUCCESSFUL COMMISSIONING OF GTLE LOW RANK COAL UPGRADING PLANT
COALspot.com: GTL Energy Ltd (GTL Energy) announced that construction and commissioning of its proprietary ‘first-of-a-kind’, low rank c ...
Tuesday, 13 July 10
BUMI TO PRODUCE MORE THAN 67 MILLION TONS OF COAL IN 2010
COALspot.com: Bumi resources, Indonesia’s largest coal producer has previewed its operating results in KPC/Arutmin for Jan – Jun 2010. A ...
Tuesday, 13 July 10
FURTHER LOSSES FOR BALTIC DRY INDEX ON HIGH VESSEL SUPPLY
The dry bulk market can’t catch a breath, as it has now entered the 7th straight week of losses. The industry’s benchmark, the Baltic Dr ...
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- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Planning Commission, India
- The State Trading Corporation of India Ltd
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
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- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- The University of Queensland
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
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