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Thursday, 24 September 09
NO IMPORTED COAL-BASED UMPPS: TATA POWER
.jpg) Will wait until policy environment becomes more favourable.
Business Standard reported that, Tata Power Company (TPC), India’s largest private power utility, has announced that it would not bid for imported coal-based Ultra Mega Power Projects (UMPPs) in future, until the overall policy environment becomes favourable. The company plans to increase its installed power generation capacity to 8,000 Mw by 2012 and 12,000 Mw by 2014 from the current 2,700 Mw.
“There are two conditions we have (for bidding in UMPPs). One, it should not be imported coal-based. Second is that the financial market should be such that it attracts foreign currency loans,” Tata Power Executive Director S Ramakrishnan said. The company’s decision stems from the volatility in international coal prices, which could further pressurise domestic power prices in future.
“We are already exposed to about 20 million tonnes of imported coal. Any more is not advisable from our portfolio point of view because international coal prices can go high, in which case the power you produce becomes very expensive. We are very keen to look at domestic (coal-based) UMPPs. If it is based on imported coal, we will not bid,” Ramakrishnan said.
He also added the company would remain “averse” to taking decisions in the matter until the government’s policy on making imported coal affordable and the policy on foreign currency exposure becomes clear.
“There are some discussions in terms of a pool price of coal, wherein imported coal and Indian coal could be mixed into one pool, so that it (imported coal) becomes affordable. Also, foreign currency loans for Indian projects have almost evaporated. We believe that the Indian financial system will get overloaded with exposure to the power industry. Until this issue is solved, there will be an issue of funding. So, let these policies get cleared before we review this,” he said.
Tata Power, which is implementing the imported coal-based Mundra UMPP, had bid for the Sasan pithead UMPP but the project went to Reliance Power after the latter matched Lanco’s bid at a tariff of Rs 1.19 a unit. Tata Power is currently locked in a legal battle over the government decision allowing Reliance Power to use coal linked to Sasan for other power projects.
Under the UMPP scheme, the government has proposed to set up 13 power projects of 4,000-Mw capacity each to increase India’s power capacity by over 50,000 Mw by 2017 in order to minimise the gap between electricity demand and supply in the country.
The government has so far bid out four of such UMPPs, one of which was in Mundra in Gujarat and was bagged by Tata Power in 2007. The other three UMPPs — Sasan in Madhya Pradesh, Krishnapatnam in Andhra Pradesh and Tilaiya in Jharkhand — are being developed by Reliance Power.
THE STORY SO FAR
* Under the UMPP scheme, the government has proposed to set up 13 power projects of 4,000-Mw capacity each to increase India’s power capacity
* The government has so far allotted four UMPPs, one of which is in Mundra in Gujarat and was bagged by Tata Power in 2007
* Tata Power is planning to commission the first two units of 800 Mw each of the Rs 17,000-crore Mundra UMPP in the terminal year of the current Plan period ending March 2012
* The project would be funded on a 75 per cent debt and 25 per cent equity basis
Tata Power is planning to commission the first two units of 800 Mw each of the Rs 17,000-crore Mundra UMPP in the terminal year of the current Plan period ended March 2012. The company has already claimed that the project has progressed 30 per cent and it plans to commission the first unit in September 2011.
The project would be funded on a 75 per cent debt and 25 per cent equity basis. Foreign exchange loans, to the extent of $1.8 billion, are being provided by Korean Exim, Korean Insurance, International Finance Corporation (IFC) and Asian Development Bank (ADB). Another $1.2 billion has been raised from a consortium of domestic banks led by the State Bank of India.
Ramakrishnan also informed that the total coal requirement for the project is about 12 million tonnes, which the company is planning to source from two Indonesian mines where it holds a stake of around 30 per cent.
“We are looking at other sources apart from Indonesia to meet the remaining requirement. The total requirement for our various projects is around 20 million tonnes,” he said.
The company has chalked out a plan to invest Rs 23,600 crore by the end of the current Plan period in various projects it is implementing currently. This includes, apart from the Mundra UMPP, a 1,050-Mw coal-based power project in Maithon in Jharkhand and two captive power plants of 120 Mw each in Orissa.
Source: Business-Standard
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Thursday, 12 November 09
GANGAVARAM PORT SETS RECORD BY DISCHARGING 80,514 TONNE OF COAL CARGO
Gangavaram Port, the deepest port in the country with water depth of 20 meters, has achieved an unprecedented milestone by discharging 80,514 metric ...
Thursday, 12 November 09
FOREIGN INVESTMENT IN RUSSIAN COAL SECTOR
Reuters reported that, Russia's coal mines, particularly in the Arctic and Far East, are attracting interest from foreign investors as commodity pr ...
Thursday, 12 November 09
BANPU TO INVEST US$ 466 M
Plan targets 33.5m tonnes of coal per year
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, is planning capital investments of ...
Wednesday, 11 November 09
NORTHSTAR TAKES 40 PER CENT OF INDONESIAN MINING COMPANY
AltAssets reported that, PT Northstar Pacific Partners, the Indonesian affiliate of US private equity firm TPG, has taken a 40 per cent stake in Ind ...
Wednesday, 11 November 09
INDONESIAN COAL MINERS SOLD BIG VOLUMES OF 2010 TO CHINA
* China has scooped up large volumes of Indonesian coal
* Total exports to China in 2010 seen to exceed 20 million T
* Chinese, Indian demand may ...
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- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
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- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Deloitte Consulting - India
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
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