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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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Friday, 28 August 09
COAL MINE BUYERS DUST OFF THEIR CASH ( ANALYZED BY REUTERS)
* Coal asset buyers give up waiting for bargains
* Mining majors expected to buy not sell
* South Africa a target, Indonesia less so
By Jackie ...
Friday, 28 August 09
JSW MAY BUY AFRICAN MINE FOR US$ 350
The Economic Times Reported that, The Sajjan Jindal-owned JSW Group is in advanced talks to acquire a coal mine in Swaziland, Africa, at an estimate ...
Friday, 28 August 09
COAL INDIA ALLOWED TO IMPORT COKING COAL
The government Thursday allowed the state-owned Coal India to import coking coal and high grade ash thermal coal by acquiring coal properties abroad ...
Thursday, 27 August 09
CIL TO SPEND US$ 1 - 1.5 BN TO ACQUIRE ASSETS IN 4 COUNTRIES
Business Standard reported that, "Coal India is looking to spend $1-1.5 billion in acquiring mining assets in Australia, Indonesia, South Afric ...
Wednesday, 26 August 09
INDIA'S JSW TO DOUBLE JAIGARH PORT CAPACITY TO 20 MT
Sea Trade Asia reported that, JSW Jaigarh Port, a wholly owned subsidiary of JSW Infrastructure & Logistics, plans to double cargo handling capa ...
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- Coalindo Energy - Indonesia
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- The State Trading Corporation of India Ltd
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- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
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- Economic Council, Georgia
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- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
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- Tata Chemicals Ltd - India
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- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
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- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
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- Jaiprakash Power Ventures ltd
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- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
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- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
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- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- The Treasury - Australian Government
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- Indonesian Coal Mining Association
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- South Luzon Thermal Energy Corporation
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- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
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- Ministry of Mines - Canada
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- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
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- Merrill Lynch Commodities Europe
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- Offshore Bulk Terminal Pte Ltd, Singapore
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- Directorate General of MIneral and Coal - Indonesia
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- Energy Link Ltd, New Zealand
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- Sakthi Sugars Limited - India
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- Renaissance Capital - South Africa
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