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Monday, 10 August 09
POLICY HURDLES DELAY NALCO'S U$$ 4.166 BILLION OVERSEAS PROJECTS
 National Aluminium Company Ltd's (NALCO) greenfield projects in overseas markets like Indonesia and Iran are in limbo because of political
and policy hurdles in those countries.
The policies of the Indonesian government and a volatile political situation in Iran are keeping the aluminium major from setting up its plants entailing an estimated investment of over Rs 20,000 crore (about US$ 4.166 Billion) , NALCO CMD C R Pradhan told PTI during his recent visit to Kolkata.
Though, the Indonesian law does not allow foreign companies to have a stake in mineral exploration, the NALCO project would be developed in a joint venture with a local partner who will have the control of the rights of coal and bauxite mines, he said.
The company would go ahead with the project, which would require at least Rs 10,000 crore (US$ 2.083 Billion) investment each, only after there is assurance of the right of some control on the minerals, Pradhan said.
The navratna company would be the majority shareholder and will control the management of the projects, Pradhan said.
Last year, NALCO had inked an agreement with the government of Indonesia for setting up a 5-lakh-tonne aluminium smelter and a 1,250 MW captive power unit at an investment of about Rs 17,000 crore (US$ 3.541 Billion).
In Iran, NALCO has plans to set up a 3.30-lakh (0.33 million) tonne smelter in a joint venture with the Iranian firm ALPHA at an investment of Rs 10,000 crore. But, the company seeks a better political climate before it submits the project plan to the Iranian government for approval.
It also plans to set up an aluminium smelter in South Africa, but the project is in nascent stage.
NALCO was aiming to ramp up its production capacity to 2.10 lakh tonnes (0.21 million) per annum for the current fiscal. In 2010-11, the capacity would be scaled up to 2.60 lakh (0.26 million) tonnes.
Pradhan was also expecting aluminium prices to stabilise at Rs 1,800-2,000 (US$ 37.5 - 41.67) a tonne which, he said, would offer the company a comfortable margin as its break-even price was below Rs 1,400 (US$ 29.16) a tonne. (1 US$ = Rs. 48)
Source: Ecomic Times
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Monday, 31 August 09
INDIA MMTC ISSUE TENDER TO IMPORT 12.5 MMT COAL TO BE SUPPLIED OVER A PERIOD OF 12 MONTHS
COALspot.com (India): MMTC has re-issued a tender to import 12.50 Million Metric Tonnes (12.50 MMT) (+/- 2%) of thermal coal to be supplied over a p ...
Monday, 31 August 09
INDONESIA ADARO'S NET PROFIT SOARS 1,506 PERCENT ON HIGH PRICES
The Jakarta Post reported that, the country's second largest coal producer, PT Adaro Energy said Sunday that its first-half net profit soared 1,506 ...
Sunday, 30 August 09
THE FUTURES FOR THREE YEARS FOR 2010-2012 IS AROUND PANAMAX / US$ 15,500 & SUPRAMAX / US$ 13,500 PER DAY
COALspot.com (Singapore): The dry bulk market continued to be soft this week and the BDI was almost stable and closed at 2,421 points this week.
...
Friday, 28 August 09
INDONESIA SEEKS TO INCREASE COAL PRODUCTION TO BOLSTER REVENUE
The Jakarta Post, the leading english news paper in Indonesia reported that, Indonesia expects to increase coal production by up to 20 million tons ...
Friday, 28 August 09
MERCURIA ENERGY OPENS INDONESIA TRADING OFFICE
COALspot.com ( Indonesia): Mercuria Energy Group has opened a new office in Jakarta, Indonesia, focussed on trading coal.
Jakarta-based Emanuele ...
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