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Wednesday, 15 June 11
INDONESIA NEW COAL POLICY WORRIES INDIA POWER FIRMS - MYDIGITALFC
 Tata Power, Adani group, Lanco Infratech and Reliance Power, among other Indian coal importers, are waiting to assess the impact of the Indonesian government attempts to benchmark its coal prices to international indices. The new system has the potential to increase the cost of thermal power generated using imported coal in India.
The new method that will come into effect from September attempts to link the royalties paid to the Indonesian government to an index of coal prices for Australian and South African coal in addition to others. But Indian firms said Indonesian coal is of lower calorific value and, hence, priced cheaper compared with Australian and South African coal.
Deepak Amitabh, director (corporate finance) of PTC, said there are lots of issues, which still need to be sorted before the coal prices are determined. “We are still not clear how the government will work out the price differentials between Indonesian coal and that produced by Australia or South Africa, for example. Also the spot prices are always costly compared with the long-term sales contracts. We need to find out if the long term contracts for Indonesian coal would be at discount to international market prices or not.”
In September 2010 the Indonesian government issued new regulations to determine the benchmark price for the sale of coal and minerals. The regulation proposes to peg the price for both domestic sales and export of coal to a ‘benchmark price’ for all the mining licensees. Dipesh Dipu, director, consulting (mining) at Deloitte in India said the new regulation will force companies to transact at market prices, which may be seen as raising the cost of delivered coal in India.
“When companies invest in Indonesia, they tend to have the intent to sell coal at cost, so that Indonesian business unit remained at no or negligible profits. Taking a holistic view, however, the cash flows in an integrated Indonesian coal mining and Indian power generation unit after this regulation will continue to be similar, except that income taxes will be paid in Indonesia, and the cash flows will need to be brought on the books on Indian power project after paying taxes in Indonesia through appropriate and innovative business structuring,” said Dipu.
Banmali Agarwala, executive director and head of business development at Tata Power said, “The increased pricing will definitely affect the cost of generation and we are trying to work out a strategy to handle the additional hike.”
Adani group that sources coal from its mines in Indonesia is also expected to be affected by this regulation, as Adani Enterprises has direct stake in Bunyu mines in Indonesia. Adani Power has contracted to procure 4.6 mtpa coal from Adani Enterprises at $36 per tonne. However, the total import requirement for present operational capacities is around 6 mtpa.
Vijaykumar Bupathy, senior analyst with Spark Capital Advisors, said in report that “Assuming a $50 per tonne increase in the free on board (FoB) price of coal, there would be Rs 1,040 crore incremental fuel cost to the group to the extent of the committed 4.6 mtpa of supply alone.” However, when Financial Chronicle contacted Adani Enterprises, the company said there will be no direct impact on the company, since its total cost of mining and transporting Indonesian coal to Mundra is $25 per tonne. The coal is sold to Adani Power at $36 per tonne. “Any hike in price would only increase the royalty payments by around $1 or $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Tuesday, 30 June 09
ARCELORMITTAL, RIO, 8 OTHERS VIE FOR COAL INDIA MINES
Coal India Ltd. short-listed ArcelorMittal, Rio Tinto Group and eight other companies to develop its abandoned mines to help ease a shortage of coal ...
Monday, 29 June 09
INDONESIA PLANS 20 PCT FOREIGN MINING SALE LAW
Indonesia plans to require foreign investors in mining firms to gradually divest shares starting from the fifth year of commercial production, but m ...
Monday, 29 June 09
CHINA ENJOYS STABLE COAL ECONOMY IN THE FIRST FIVE MONTHS OF 2009
In the first five months of the year, China's raw coal production had continued to rise, and coal market stayed in a balance in terms of supply-dem ...
Monday, 29 June 09
GOVERNMENT FINE TUNES MINING LAW
The government is planning to require all foreign-owned mining companies to divest 20 percent of their businesses to local entities after five years ...
Sunday, 28 June 09
INDIA CEMENTS TO INVEST RS 1,500 CR OVER 2 YEARS
Chennai-based India Cements is planning to invest around Rs 1,500 crore over the next two years for setting up a greenfield project in Rajasthan, po ...
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- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
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