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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, 25 September 09
INDONESIA STOCK EXCHANGE EXAMINES BUMI DEAL WITH CHINESE SOVEREIGN WEALTH FUND
The Jakarta globe reported that, The Indonesia Stock Exchange is looking into the $1.9 billion financing deal between PT Bumi Resources, the country ...
Friday, 25 September 09
FREIGHT RATE CUTS MAKING SOUTH AFRICAN COAL MORE COMPETITIVE IN ASIAN MARKETS
Mining Weekly reported that, Coaltrans South Africa MD Gerard Strahan highlighted the country’s sudden increase in coal exports to southern Ch ...
Friday, 25 September 09
XSTRATA TO BUILD ITS OWN RAIL CAPACITY TO SHIP AUSTRALIAN COAL
Bloomberg reported that, Xstrata Plc, the world’s largest exporter of coal used by power stations, will establish its own rail haulage capacit ...
Thursday, 24 September 09
INDIA CEMENT CO'S TO AWARD 200,000T COAL TENDER
Reuters reported that, India's biggest cement maker ACC Cement Ltd and Gujarat Ambuja will award on Thursday Sept 25 a tender for 100,000 tonnes ea ...
Thursday, 24 September 09
YUDEAN TO SIGN CO-OPERATION LETTER OF INTENT WITH RUSSIA COAL TRADE COMPANY
In the recent days, Gao Shiqiang, deputy manager of Yudean Group Co., Ltd. went and carried out the friendly talks with SUEK and inked the trade co- ...
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- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
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- Formosa Plastics Group - Taiwan
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- CNBM International Corporation - China
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- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
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- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
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- New Zealand Coal & Carbon
- Mercator Lines Limited - India
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- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- ICICI Bank Limited - India
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- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
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