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Sunday, 03 October 10
NALCO TO FINALIZE INDONESIA COAL DEAL BY JANUARY - HINDUSTAN TIMES
 HindustanTimes reported that, state-owned National Aluminium Company (NALCO) will finalise a deal with a coal source in Indonesia for its $4 billion aluminium project in that country by January 2011, NALCO Director (Finance) B L Bagra said on Saturday.
The Bhubaneswar-headquartered company had floated tender last month.
Bagra said four bids were received from Indonesian coal firms for the tender and it will take at least one month for the company to evaluate them.
The company will then examine the technical and commercial feasibility.
"By the next four months, we should be finalising the deal," Bagra told IANS.
NALCO had received the expression of interests from the companies like Middle East Coal (MEC), Bumi Murau Coal, Energy Indonesia and Pram Dwi Jaya, he said.
NALCO has already been accorded foreign investment approval by the Indonesian government to set up a 0.5 million tonnes aluminium smelter and a 1,250 MW coal-based thermal captive power plant in East Kalimantan province of that country.
Bagra said NALCO had invited bids from competent coal miners or concession holders for coal reserves in East Kalimantan province having coal mines in close proximity to seaport and fresh water source and infrastructure.
NALCO, Asia's largest integrated aluminium producer, would import alumina of one million tonnes per annum from its facilities in India in bulk shipment through sea route, he said.
The company, however, requires eight to 10 million tonnes annually of thermal grade coal, about half of which will serve its East Kalimantan project and the rest will meet its energy requirement elsewhere.
Bagra said NALCO has already opened an office in Jakarta, the capital of Indonesia, to expedite the project activities.
It has set an ambitious target of achieving an annual turnover of Rs 25,000 crore by 2020, giving major thrust to diversification and capacity expansion.
The company has decided to venture into new fields of activities beyond aluminium by setting up at least two numbers of diversified projects by 2016.
Source: HindustanTimes
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Wednesday, 20 October 10
CANADIAN CHALLENGER ACQUIRES INDONESIAN COAL PROJECT
COALspot.com (Press Release): According to Challenger Deep Resources Corp's website and press release posted on the site, Challenger Deep Res ...
Wednesday, 20 October 10
ADANI THE LARGEST COAL IMPORTER OF INDIA IS NEGOTIATING WITH COAL INDIA LIMITED FOR A SUPPLY AGREEMENT - TOP NEWS
Top News reported that, negotitations are very much on between Adani Enterprises, the biggest coal importer of the country and Coal India Limited, t ...
Wednesday, 20 October 10
UAE FIRM IN INDONESIA RAIL DEAL - GULF NEWS
Gulf News reported that, construction of a 140-kilometre railway in Indonesia, initiated by RAK Minerals and Metals Investments (RMMI) will start ne ...
Wednesday, 20 October 10
CAPESIZES FINDING SUPPORT IN IRON ORE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although the beginning of the week wasn’t the rosiest one for the dry bulk market, last week proved a cheerful one for dry bulk ship owners, e ...
Saturday, 16 October 10
BDI WAS MARGINALLY UP BY 2.45 PCT LAST WEEK - VISTAAR SHIPPING
COALspot.com: The BDI seemed to lose the moment compared to last week and was marginally by 2.45 pct and closed at 2,762 points.
Also the Cape in ...
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