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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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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 ...
Tuesday, 11 August 09
INDONESIA'S COAL EXPORTS TO INDIA WILL BE EXEMPTED FROM DUTIES STARTING JANUARY 1, 2013 - BERITA SORE
Berita sore reported that, ASEAN is scheduled to sign a long-awaited Free Trade Agreement (FTA) with India in Bangkok on Thursday aimed at boosting ...
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- Indonesian Coal Mining Association
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- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
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- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
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- Independent Power Producers Association of India
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- Parliament of New Zealand
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- Trasteel International SA, Italy
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- Thiess Contractors Indonesia
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- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Ministry of Finance - Indonesia
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- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
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- New Zealand Coal & Carbon
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- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
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- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
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- Sree Jayajothi Cements Limited - India
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- GAC Shipping (India) Pvt Ltd
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- Anglo American - United Kingdom
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- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
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- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
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- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Indian Oil Corporation Limited
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- PTC India Limited - India
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- GMR Energy Limited - India
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- Mintek Dendrill Indonesia
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- Makarim & Taira - Indonesia
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- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
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- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
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- Indian Energy Exchange, India
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
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- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
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- Posco Energy - South Korea
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- Simpson Spence & Young - Indonesia
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- Barasentosa Lestari - Indonesia
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- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- The Treasury - Australian Government
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- SMC Global Power, Philippines
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- Chamber of Mines of South Africa
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- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
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- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
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- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- The University of Queensland
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- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- MS Steel International - UAE
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
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- Ministry of Transport, Egypt
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