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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, 08 July 10
DRY BULK MARKET STILL PLUNGING, NOW STANDING AT 14 MONTH LOWS
The dry bulk shipping market’s demise isn’t over yet, as the industry’s main benchmark, the Baltic Dry Index (BDI) has been on a f ...
Wednesday, 07 July 10
MACQUARIE SEES CHINA COMMODITIES PRICE FALLS AND CUTBACKS AHEAD - MINEWEB
MineWeb reported that, The research arm of Australia's Macquarie Bank - one of the most reliable of China watchers - in its latest briefing on Chin ...
Wednesday, 07 July 10
COAL PRICES ON THE RISE
Caixin online reported that, China's domestic coal prices have seen a 26.2 percent year-on-year rise in May. Meanwhile, the volume of coal im ...
Tuesday, 06 July 10
INCREASE IN DRY BULK SPOT FIXTURES UNABLE TO BOOST RATES, LOSING STREAK CONTINUES
Yet another week began on a negative note for the dry bulk shipping market, with the Baltic Dry Index posting its 28th straight losing daily session ...
Tuesday, 06 July 10
KEPCO, POSCO BUY AUSTRALIAN COAL MINES - CHOSUN
Chosun reported that, Electricity monopoly KEPCO and steelmaker POSCO have both bought coal mines in Australia.
KEPCO signed a 400 million Austra ...
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- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- PTC India Limited - India
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Australian Coal Association
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
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