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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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Friday, 27 February 09
WIKA TO ACQUIRE MINING COMPANY
The Jakarta Post reported that, Public listed state construction firm PT Wijaya Karya (Wika) is to acquire a mining contracting firm in the first se ...
Friday, 27 February 09
COASTAL ENERGEN INKS PACT WITH CHINESE FIRM FOR POWER EQUIPMENT
My Digital Fc reported that, Dubai-based Coal and Oil Group, which is setting up a 1,200MW thermal power plant in Tamil Nadu, has tied-up with China ...
Thursday, 26 February 09
GMR INFRA COMPLETES INDONESIAN BUY
Blonnet reported that, GMR Infrastructure Ltd today confirmed the acquisition of an Indonesian coal mining company for a consideration of $80 millio ...
Wednesday, 25 February 09
INDONESIAN GOVERNMENT TO REGULATE MINIMUM COAL SELLING PRICES
The Jakarta Post reported that, To complement the recent enactment of the new mining law, the government is preparing to introduce a coal pricing in ...
Thursday, 19 February 09
GEOTHERMAL ENERGY DOMINATES 10.000 MW POWER PROJECT - ESDM
The role of coal as a source of energy is superseded by geothermal energy to power the second phase of the 10.000 megawatt (MW) power plant project. ...
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- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
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- Standard Chartered Bank - UAE
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- Intertek Mineral Services - Indonesia
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- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
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- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Parliament of New Zealand
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- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
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- Kepco SPC Power Corporation, Philippines
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- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
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- Goldman Sachs - Singapore
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- IEA Clean Coal Centre - UK
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- Cement Manufacturers Association - India
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- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
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- Ministry of Mines - Canada
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- GMR Energy Limited - India
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- Energy Link Ltd, New Zealand
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- Electricity Authority, New Zealand
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- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
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- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
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- Deloitte Consulting - India
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- Aboitiz Power Corporation - Philippines
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- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
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- Meenaskhi Energy Private Limited - India
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- The Treasury - Australian Government
- Romanian Commodities Exchange
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- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
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- Sakthi Sugars Limited - India
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- Bangladesh Power Developement Board
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- Africa Commodities Group - South Africa
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Economic Council, Georgia
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- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Planning Commission, India
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
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- Australian Coal Association
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
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- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
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- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
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- Meralco Power Generation, Philippines
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- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
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