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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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- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Australian Coal Association
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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