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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, 28 September 09
INDONESIA UNLIKELY TO PASS NEW MINING RULES IN 2009
Reuters reported that, Indonesia is unlikely to complete final regulations attached to a new mining and coal law this year, an official said on Mond ...
Monday, 28 September 09
TATA POWER SCOUTS FOR COAL BLOCKS ABROAD
Business Standard reported that, private power producer Tata Power is scouting for coal mines abroad, including Australia and Mozambique, to meet de ...
Saturday, 26 September 09
THE INDIA / FAR EAST SEEMS WILL BE FIRM NEXT WEEK - VISTAAR
COALspot.com (Singapore): The dry bulk market was soft this week and the BDI dropped by almost 7 pct to 2,183 points. The cape size index dropped by ...
Saturday, 26 September 09
GSECL PLANS TO PROCURE 15 LAKH (1.5 MILLION) MT OF IMPORTED COAL
Business Standard reported that, State-run power generation company, Gujarat State Electricity Corporation Ltd (GSECL) intends to procure 15 lakh (1 ...
Saturday, 26 September 09
SAIL TO SET UP TWO SLAG-BASED CEMENT MANUFACTURING UNITS
Rediff Business reported that, Government-owned Steel Authority of India Ltd, the country's largest steel producer, is looking to set up two greenf ...
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- Electricity Authority, New Zealand
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- ICICI Bank Limited - India
- Economic Council, Georgia
- The University of Queensland
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Siam City Cement - Thailand
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
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