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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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- Aditya Birla Group - India
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- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
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- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
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- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
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- Merrill Lynch Commodities Europe
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- The University of Queensland
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- The State Trading Corporation of India Ltd
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- Mintek Dendrill Indonesia
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- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
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- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
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- Orica Australia Pty. Ltd.
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- Petron Corporation, Philippines
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- White Energy Company Limited
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- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
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- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
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- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
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