We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Thursday, 24 September 09
NO IMPORTED COAL-BASED UMPPS: TATA POWER
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Thursday, 24 September 09
ANGLO EYES DOUBLED METALLURGICAL COAL OUTPUT BY 2018
Mining group Anglo American could double its production of coal used for steel making by 2018 if all of its unapproved projects went ahead, the comp ...
Thursday, 24 September 09
S.KOREA HYUNDAI STEEL TO BUY COAL FROM SIBERIA
Reuters reported that, South Korea's Hyundai Steel said on Wednesday it will buy a maximum of 300,000 tonnes of coal per year from Siberian Anthrac ...
Thursday, 24 September 09
BUMI RAISES $1.9 BILLION SELLING DEBT TO CHINA'S CIC
Bloomberg reported that, PT Bumi Resources, Indonesia’s biggest coal producer, said it raised $1.9 billion selling debt to China’s sover ...
Thursday, 24 September 09
MACQUARIE DOWNGRADES U.S. COAL SECTOR TO NEUTRAL
Reuters reported that, Macquarie Research downgraded the U.S. coal sector to "neutral" from "overweight" as it believes that dem ...
Thursday, 24 September 09
CHINA WILL BE IMPORTER OF COKING COAL NEXT YEAR, MCCLOSKEY SAYS
Bloomberg reported that, China, the world’s largest coal user and producer, will remain an importer of the fuel through next year, according t ...
|
|
|
Showing 6401 to 6405 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- The University of Queensland
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Minerals Council of Australia
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
|
| |
| |
|