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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, 18 September 09
STANCHART TO ADVISE BAYAN ON INDONESIA COAL FINANCING
Indonesian coal miner PT Bayan Resources Tbk said on Wednesday it has appointed Standard Chartered Bank as a financial adviser for raising at least ...
Friday, 18 September 09
COKING COAL SUPPLY TO FALL 3 MILLION TONS IN CHINA ON SHUTDOWN
Bloomberg reported that, Coking coal supply in China, the largest consumer, may fall by 3 million metric tons a month after a mine accident this mon ...
Thursday, 17 September 09
FOUR LEFT IN INDIA'S MMTC COAL IMPORT TENDER-SOURCE
Reuters reported that, India's MMTC Ltd has accepted four out of five submissions for an import tender for 12.5 million tonnes of coal, with a bid ...
Thursday, 17 September 09
INDIA SEEKS COAL
IBT commodities reported that, India is on a coal buying spree. The big Asian nation is scrambling to cover an expected shortfall in domestic supply ...
Wednesday, 16 September 09
S. LANKA, INDIA'S NTPC TO SIGN $500 MLN COAL DEAL
Reuters reported that, Sri Lanka is to sign a commercial agreement with India's National Thermal Power Corporation (NTPC.BO) to build a $500 millio ...
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- Price Waterhouse Coopers - Russia
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- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
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- Planning Commission, India
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- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
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- New Zealand Coal & Carbon
- Independent Power Producers Association of India
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- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- White Energy Company Limited
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- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
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- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- The University of Queensland
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
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- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
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- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
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- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
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- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
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