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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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Monday, 24 August 09
10 LAKH (1 MILLION) TONNE COAL BURNT IN KPT
Times of India reported that, In an unusual phenomenon, 10 lakh tonne coal cache stored at a plot in Kandla Port Trust was reduced to ashes after it ...
Monday, 24 August 09
LANCO IN TALKS FOR INDONESIAN COAL MINE
Economic Times of India reported that, Infrastructure company Lanco Infratech is in advanced talks with Indonesian engineering, procurement and cons ...
Saturday, 22 August 09
'THE BDI IS LIKELY TO BE HOLDING AROUND 2,500 POINTS' - SHIPPING UPDATE
COALspot.com (Singapore): The dry bulk market continued to be soft and the BDI dropped by 10 percent this week and closed at 24,68 points this week. ...
Saturday, 22 August 09
INDIAN COAL BUYERS RE-EMERGE WITH FRESH TENDERS
Reuters world's largest international multimedia news agency reported that,Indian coal end-users have re-emerged after a few weeks with several fre ...
Friday, 21 August 09
HUANENG YIMIN TO HIKE COAL OUTPUT
China Daily, the largest English portal in China reported that, China's first large coal-electricity joint project, Huaneng Yimin Coal Electricity ...
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- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- The University of Queensland
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- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Minerals Council of Australia
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- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Indian Energy Exchange, India
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- SMC Global Power, Philippines
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- New Zealand Coal & Carbon
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- Star Paper Mills Limited - India
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- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
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- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
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- Planning Commission, India
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- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
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- Economic Council, Georgia
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Parliament of New Zealand
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
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- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
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- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
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- Directorate Of Revenue Intelligence - India
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- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
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- Chamber of Mines of South Africa
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- Agrawal Coal Company - India
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- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
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- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
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- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
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