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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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Tuesday, 22 September 09
AUSTRALIA SEES HIGHER ASIAN THERMAL COAL IMPORTS
* Asia '09 imports to rise 3.5%, vs pvs f'cast of 3.3% fall
* Asia 2010 thermal coal imports expected to rise 6.3 pct
* China to become net im ...
Tuesday, 22 September 09
PANAMA CANAL EXPANSION MAY AID COLOMBIA COAL TO ASIA
* Colombia producers hope for growth in Asia shipments
* Panama Canal will allow smaller coal Capesize vessels
* Australia, Indonesia to remain bi ...
Monday, 21 September 09
ACCC SET TO APPROVE NEWCASTLE COAL SHIPPING AGREEMENT
ABC reported that, The competition regulator says it is likely to approve a new agreement over coal loading arrangements at Newcastle.
Australian ...
Friday, 18 September 09
PEABODY ENERGY ESTABLISHES ASIAN COAL TRADING HUB IN SINGAPORE
Peabody Energy announced it has opened an office in Singapore that will serve as the new hub for Peabody COALTRADE International activities in South ...
Friday, 18 September 09
AUSTRALIA NEWCASTLE COAL PORT: SEEKS INTERIM QUOTA SYSTEM
Reuters reported that, Australia's Newcastle coal terminal wants to re-introduce an interim export quota system after a group of miners led by BHP ...
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- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Planning Commission, India
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Parliament of New Zealand
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- White Energy Company Limited
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Minerals Council of Australia
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Australian Coal Association
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
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