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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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Sunday, 26 April 09
INDONESIAN GOVT SAYS COAL MINES CAUSE WEEKLONG FLOOD - THE JAKARTA POST
Samarinda administration in East Kalimantan admitted openly Thursday that the weeklong flood that paralyzed the city was caused by unruly management ...
Saturday, 25 April 09
FOREIGN SHARE DIVESTMENT STARTING THE 6TH YEAR OF PRODUCTION - MAJALAH TAMBANG
The government would set a divestment scheme for foreign miners, which would require companies to divest their ownership starting the 6th year of pr ...
Saturday, 25 April 09
INDO TAMBANGRAYA MEGAH ALLOCATED USD 126 MILLION FOR CAPITAL SPENDING - MAJALAH TAMBANG
Somyot Ruchirawat, President Director of PT Indo Tambangraya Megah, Tbk (ITMG), has announced the company's total dividend payment of Rp 1,345 per ...
Saturday, 25 April 09
MINING SECTOR IS STILL ON THE SURPLUS - THE JAKARTA POST
The global financial crisis is apparently also having an impact on the mining sector. People are thinking twice about investing in the mining sector ...
Saturday, 25 April 09
ADARO RUNS CATARACT OPERATION PROGRAM - THE JAKARTA POST
As part of its CSR program, thermal coal producer PT Adaro Indonesia has made cataract operations available to residents of Tandjung district, South ...
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- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- PTC India Limited - India
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Australian Coal Association
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Planning Commission, India
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
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