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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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- Indo Tambangraya Megah - Indonesia
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- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- PTC India Limited - India
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- The University of Queensland
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Australian Coal Association
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
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