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Sunday, 10 July 11
INDONESIAN BAYAN RESOURCES TO SUPPLY 100 MILLION TONS OF COAL TO INDIAN UNIVERSAL SUCCESS ENTERPRISES LIMITED


Coal miner PT Bayan Resources Tbk (BYAN), that is owned by Dato' Low Tuck Kwong, has entered into a conditional sales and purchase agreement to supply 100 million metric tons of low sulphur coal to three power plants with combined capacity of 6,000 MW, as reported by Insider Stories

In a press statement, power plants are Saurashtra Super Thermal Power Project, Gujarat Unit-1, Saurashtra Super Thermal Power Project, Gujarat Unit-2, and Sagar Super Thermal Power Project, West Bengal Unit-3. The power plants will be constructed and owned by Universal Crescent Power Private Limited, a wholly owned subsidiary of Universal Success Enterprises Limited (USE).

The agreement is valid for 15 years commencing on 2015 which is conditional on USE achieving financial closure of the projects on or before 31 2013.

USE started operations in 2013 in the real estate sector has become one of the top five developers in India to date.

"We believe that this additional contract significantly enhances our existing robust sales commitments and secures the continued expansion of the Group especially at the Tabang and North Pakar Mines," said President Director of Bayan, Eddie Chin.



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Recent News

Wednesday, 20 July 11
DRY BULK MARKET KEEPS ON FALLING ON SOFTENING CONDITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market retreated to lower ground on Tuesday, as the industry’s benchmark, the BDI (Baltic Dry Index) fell to 1,330 points, down b ...


Tuesday, 19 July 11
82 MIO TONS OF COAL TO BE SUPPLIED FOR DOMESTIC MARKET
Indonesian Coal miners were required to supply 82 million tons of coal to Domestic market in this year. This is a 2.53 percent higher than last year ...


Monday, 18 July 11
IMFA BUYS A INDONESIAN COAL MINE FOR USD 8.7 M
Indian Metals and Ferro Alloys (IMFA), the largest producer of ferro chrome in the country, today said it has acquired 70 per cent stake in an Indones ...


Sunday, 17 July 11
THE COAL PRICES ARE SOFTENING DUE TO LESS DEMAND - VISTAAR
COALspot.com: The markets were down last week with BDI down by 6.63 points and closing at 1,353 points. The most affected was Cape index which was d ...


Friday, 15 July 11
DRY BULK MARKET SUFFERS NEW BLOW, RETREATS EVEN FURTHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market fell even lower yesterday on the back of lower demand for larger vessels, like Capesizes and Panamaxes. The industry’s ben ...


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