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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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Friday, 23 October 09
CIL PRICE HIKE LIKELY TO PUSH POWER RATES UP
Business-Standard reported that, May squeeze cement companies’ margins, but the steel sector is unlikely to be affected much.
The upward re ...
Thursday, 22 October 09
2ND UNITED INDONESIA CABINET UNVEILED
The Jakarta Post reported that, President Susilo Bambang Yudhoyono announced his second United Indonesia Cabinet on Wednesday night, comprising 34 m ...
Thursday, 22 October 09
PEABODY SET TO TAP ASIAN DEMAND FOR COAL
The Australian reported that, US coal giant Peabody Energy plans to double its Queensland and NSW coal exports in the next five years, as it looks t ...
Wednesday, 21 October 09
INDONESIA POWER FIRM SEEKS TO DEFER COAL SUPPLIES
Reuters reported that, Indonesia's state power firm is negotiating with two coal producers, including a unit of PT Bumi Resources Tbk, to defer a c ...
Wednesday, 21 October 09
MINING REGULATION GENERATES CONFUSION IN INDONESIA
The Jakarta Globe reported that, Mining industry representatives said on Friday they were confused by a recently issued regulation restricting the w ...
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- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- White Energy Company Limited
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Indika Energy - Indonesia
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Australian Coal Association
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
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