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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, 07 August 12
2ND ANNUAL FLOATING TERMINALS
Press Release - After a ground breaking and successful launch in 2011, the 2nd Annual Floating Terminals conferenceis back to address innovation, co ...
Tuesday, 07 August 12
KRISHNAPATNAM PORT HAS DISCHARGED 122,247 MTS OF COAL IN JUST 24 HRS
COALspot.com - Keeping with the tradition of the new records that are set at the Olympic Games 2012, Krishnapatnam Port has also achieved in setting ...
Tuesday, 07 August 12
THE JAKARTA POST EDITORIAL: REVISITING THE MINING LAW
The Jakarta post, one of the leading English news paper in Indonesia writes in its editorial today, what the domestic and foreign investors had drea ...
Tuesday, 07 August 12
BARAMULTI SET TO LIST ON BOURSE IN Q4 - JP
The Jakarta Post reported that, coal miner PT Baramulti Sukses Sarana is preparing to make its shares available to the public in the fourth quarter ...
Tuesday, 07 August 12
REALM RESOURCES COMPLETES STUDY ON ITS KATINGAN RIA COAL PROJECT
COALspot.com - Realm Resources Ltd. has announced that it has completed the Project Study for the Katingan Ria Project in Central Kalimantan, Indone ...
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- Larsen & Toubro Limited - India
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- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
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- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
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- Directorate General of MIneral and Coal - Indonesia
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- PowerSource Philippines DevCo
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- Bhushan Steel Limited - India
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- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
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- Wilmar Investment Holdings
- Indian Energy Exchange, India
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- IEA Clean Coal Centre - UK
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- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
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- MS Steel International - UAE
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
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- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Parliament of New Zealand
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
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- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- White Energy Company Limited
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
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