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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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Thursday, 13 August 09
JAYPEE GROUP. L&T INK RS 4,000-CRORE (US$ 824,818,084) DEAL
Second order bagged by L&T in the supercritical segment.
Jaiprakash Power Ventures Ltd (JPVL), promoted by the $7-billion Jaypee group, has s ...
Wednesday, 12 August 09
COAL INDIA TO IMPORT 4 MLN T 2009/10 - MEDIA
State-run Coal India Ltd plans to directly import 4 million tonnes of coal in the current fiscal year to March 2010, Chairman Partha Bhattacharyya s ...
Wednesday, 12 August 09
CHINA'S LARGEST COAL PRODUCER TO SET UP COAL RESERVES
China's National Development and Reform Commission has commissioned China Shenhua Energy Co., the nation's largest coal producer, to build 10 stor ...
Wednesday, 12 August 09
NALCO SMELTER CONSTRUCTION MAY FACE DELAY
The Jakarta Post reported that, India’s state-run National Aluminum Company (Nalco) may postpone the construction of an aluminum smelter in In ...
Wednesday, 12 August 09
COAL MINE PLAN SHOT DOWN OVER GREEN CONCERNS
The Times of India reported that, In a major setback to Adani Powers, the principal chief conservator of forests (PCCF) has rejected its proposal fo ...
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- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
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- Intertek Mineral Services - Indonesia
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- Sarangani Energy Corporation, Philippines
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- Eastern Coal Council - USA
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- Parliament of New Zealand
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- PNOC Exploration Corporation - Philippines
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- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
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- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
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- Energy Development Corp, Philippines
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- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- The University of Queensland
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- Agrawal Coal Company - India
- Thai Mozambique Logistica
- London Commodity Brokers - England
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- MS Steel International - UAE
- Economic Council, Georgia
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- PTC India Limited - India
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Sical Logistics Limited - India
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- White Energy Company Limited
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- Kideco Jaya Agung - Indonesia
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- Tamil Nadu electricity Board
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- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
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- Ceylon Electricity Board - Sri Lanka
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- Independent Power Producers Association of India
- Planning Commission, India
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