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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, 02 February 11
HUGE TONNAGE OVERSUPPLY LOOMING FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market taking another dive yesterday, to just over 1,000 points (1,084), losing more than 2% on the day, it’s more than obvi ...


Monday, 31 January 11
S. SUMATRA COAL RAILWAY TO BE COMPLETED ON SCHEDULE - THE JAKARTA POST
The Jakarta Post reported that, despite land acquisition problems, state coal mining company PT Bukit Asam is upbeat that the development of a railw ...


Monday, 31 January 11
COAL MINER PTBA TO DRIVE OUTPUT WITH ACQUISITIONS - THE JAKARTA GLOBE
The Jakarta Globe reported that, State coal company Perusahaan Tambang Batubara Bukit Asam said its output would increase 34 percent to 17.6 million ...


Saturday, 29 January 11
PRESSURE ON SHIPPING MARKET MAY CONTINUE UNTIL MID FEBRUARY 2011
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1370 points. In  May 2010 the BDI touched 4,209 ...


Saturday, 29 January 11
ANTAM ACQUIRES SAROLANGUN COAL MINING
According to Insider Stories, Nickel and gold miner PT Aneka Tambang Tbk (Antam) of Indonesia via its subsidiary PT Indonesia Coal Resources (ICR) h ...


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