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Saturday, 12 September 09
INDONESIAN CO KEEN ON TRADING COAL FOR EQUITY IN POWER PROJECTS
 Though most large power project promoters have their own mines in Indonesia, MEC is confident of convincing Indian companies as its price is quite attractive.
The Hindu Business Online reported that, 11 The large-size power projects announced by various Indian companies seem to have prompted a standalone Indonesian coal miner to come knocking on their doors.
Middle East Coal (MEC), a joint venture between Trimex Group and the UAE Government-owned RAK Minerals and Metals Investment, has initiated talks with these players to swap equity for coal. The company assures coal supply at $35-$40 a tonne for 15 years. Currently, coal prices are around $50-$55 a tonne.
MEC is developing a coal mine at East Kalimantan in Indonesia with proven reserves of two billion tonnes at an investment of $1 billion.
Mr Madhu Koneru, Executive Vice-Chairman, MEC, said production would begin with two million tonnes by the middle of next year and would be ramped up to 15 million tonnes by November 2011.
“We have floated a tender of $1 billion to develop a coal jetty and rail link of 130 km to transport the coal from the mine. With such huge investments, we thought of forward integration by joining hands with the promoters of large power projects,” he added.
The company wants to sell 70 per cent of its production to India and the balance to China.
On an average, about 17 million tonnes of coal are needed for a generation capacity of 5,000 MW. Coal accounts for about 60-70 per cent of the power production cost in India for producers dependent on imports.
Though companies such as Reliance Power, Tata Power and Adani Power have their own mines in Indonesia, MEC is confident of convincing Indian companies as the price it is offering is quite attractive.
It has managed to offer a lower price compared to others as the rail link being developed will result in savings of about 50 per cent of transportation costs.
The company is targeting new power projects as existing companies use coal with calorific value of 6300 Kcal/kg while MEC will produce coal with calorific value of 5300 Kcal/kg. The stripping ratio of MEC mines is 1:1 (mud to coal), while for most mines it is 8:1, said Mr Koneru.
MEC has also signed an agreement with Nalco which plans to set up a one million tonne alumina smelter at the coal mine site in Indonesia. Nalco will hold 74 per cent stake in the project while MEL will have 26 per cent equity to provide assured coal supplies. The company is in the process of negotiating the price, he said.
Source: The Hindu Business Online
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Thursday, 24 September 09
CHINA WILL BE IMPORTER OF COKING COAL NEXT YEAR, MCCLOSKEY SAYS
Bloomberg reported that, China, the world’s largest coal user and producer, will remain an importer of the fuel through next year, according t ...
Wednesday, 23 September 09
TATA POWER TO COMMISSION 2 UNITS OF MUNDRA UMPP BY FEB 2012
Business Standard reported that, the country's largest private power producer Tata Power today said it would commission 1,600 MW capacity of its 4, ...
Wednesday, 23 September 09
NAVA BHARAT TO ADD 300MW CAPACITY, RAISE RS1,386 CRORE (US$ 289,674,610)
The firm plans to place orders for equipment by the end of October and commission both the plants by April 2012 to sell power in the open market
...
Tuesday, 22 September 09
ASIA COAL-PRICES TOPS $70 AS TRADERS SEEK BARGAINS
Reuters reported that, prices of power-station coal in Australia, a benchmark for Asia, rose for the second week to top $70 a tonne this week, clawi ...
Tuesday, 22 September 09
QINHUANGDAO COAL PRICES SURGE ON STRONG DEMAND
People's Daily Online reported that, Coal prices at Qinhuangdao port, China's largest coal port, witnessed the sharpest increase in the year last ...
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- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- The University of Queensland
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
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- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
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- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
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- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
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- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
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- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
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- Kumho Petrochemical, South Korea
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- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
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- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
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- South Luzon Thermal Energy Corporation
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- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
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- Grasim Industreis Ltd - India
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- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
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- The State Trading Corporation of India Ltd
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- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
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