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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 $1.2 billion has been raised from a consortium of domestic banks led by the State Bank of India.
Ramakrishnan also informed that the total coal requirement for the project is about 12 million tonnes, which the company is planning to source from two Indonesian mines where it holds a stake of around 30 per cent.
“We are looking at other sources apart from Indonesia to meet the remaining requirement. The total requirement for our various projects is around 20 million tonnes,” he said.
The company has chalked out a plan to invest Rs 23,600 crore by the end of the current Plan period in various projects it is implementing currently. This includes, apart from the Mundra UMPP, a 1,050-Mw coal-based power project in Maithon in Jharkhand and two captive power plants of 120 Mw each in Orissa.
Source: Business-Standard
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Thursday, 29 October 09
MMTC AWARDED 12.5 MILLION TONS TO THREE INDIAN TRADERS
COALspot.com (India): State-run trading firm MMTC awarded tenders for the import of 12.5 million tonnes of coal for NTPC to three Indian coal trader ...
Thursday, 29 October 09
COAL OF AFRICA SEES VELE OUTPUT BY APRIL 2010
* First coal from Mooiplaats mined and sold
* Talks with Transnet on rail PPP on track
Reuters reported that, Coal of Africa (CoAL) said on Mond ...
Thursday, 29 October 09
UAE FUND EYES INDIA POWER FOR INDONESIAN COAL
Reuters reported that, the UAE's Middle East Coal (MEC) is in talks to buy equity stakes in India's power plants in exchange for long-term coal su ...
Thursday, 29 October 09
CESC POSTS RS 126 CRORE (US$ 26,655,178) NET PROFIT IN QUARTER TWO
Economic Times reported that, Energy major CESC posted a marginal increase in net profit at Rs 126 crore (US$ 26,655,178) for the quarter ended Sep ...
Thursday, 29 October 09
INDIA MMTC TENDER SET TO BOOST S.AFRICA COAL
The South African coal market is set to be boosted further by India's state-owned trading firm MMTC Ltd's tender for 12.5 million tonnes, Indian t ...
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- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- India Bulls Power Limited - India
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
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