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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 $1.2 billion has been raised from a consortium of domestic banks led by the State Bank of India.
Ramakrishnan also informed that the total coal requirement for the project is about 12 million tonnes, which the company is planning to source from two Indonesian mines where it holds a stake of around 30 per cent.
“We are looking at other sources apart from Indonesia to meet the remaining requirement. The total requirement for our various projects is around 20 million tonnes,” he said.
The company has chalked out a plan to invest Rs 23,600 crore by the end of the current Plan period in various projects it is implementing currently. This includes, apart from the Mundra UMPP, a 1,050-Mw coal-based power project in Maithon in Jharkhand and two captive power plants of 120 Mw each in Orissa.
Source: Business-Standard
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Monday, 12 October 09
SHANDUKA BUYS SACMH RICHARDS BAY COAL ALLOCATION
* Shanduka Coal takes SACMH 500,000T export space
* RBCT must approve any change of ownership
Reuters reported that, South Africa's Shanduka Co ...
Monday, 12 October 09
INDONESIA TO CUT ROYALTIES TO BOOST LOW QUALITY COAL
Reuters reported that, Indonesia, the world's biggest exporter of thermal coal, plans to cut royalties paid by producers holding certain contracts ...
Monday, 12 October 09
SAMPUR COAL POWER PLANT AGREEMENT
Sunday Observer reported that, The construction work of the Sri Lanka-India joint venture coal power plant which costs US dollars 500 million will c ...
Saturday, 10 October 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - CAPT. REDDY
COALspot.com (Singapore): The BDI again firmed up this week by almost 14 pct to 2,695 points. The cape size index moved up quite sharply by 25 pct t ...
Saturday, 10 October 09
COAL PRICES TIPPED TO SURGE BY 40% AS GLOBAL DEMAND RECOVERS NEXT YEAR
Power-station coal prices may climb by more than 40 percent in 2010 from current levels as a global economic recovery boosts demand from power plant ...
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- Bayan Resources Tbk. - Indonesia
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- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
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- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Baramulti Group, Indonesia
- Australian Coal Association
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- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
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- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
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- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
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- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
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