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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
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Monday, 14 September 09
BOOM FORECAST FOR COAL OUTPUT
SMH.com reported that, A COAL investment boom is driving Australian production to new peaks even as our biggest export markets shift towards cleaner ...
Sunday, 13 September 09
COAL INDIA MAY ACQUIRE ASSETS OF RIO TINTO
Coal India’s plan to acquire overseas mining assets is gathering steam. After a breakthrough in Mozambique, the coal behemoth has received&nbs ...
Saturday, 12 September 09
THE INDIA / FAR EAST SEEMS WILL CONTINUE TO BE SOFT UNTIL THE IRON ORE MOVEMENTS PICKS UP - CAPT. REDDY
COALspot.com (Singapore): The dry bulk market continued to be stable at almost as same levels as last week and the BDI was at 2,468 points.
...
Saturday, 12 September 09
GOVT REQUESTS MORE TIME TO ACQUIRE 21% SHARES IN NNT
The Jakarta Post reported that, the government plans to request a postponement for the acquisition of 21 percent shares in PT Newmont Nusa Tenggara ...
Saturday, 12 September 09
INDONESIAN CO KEEN ON TRADING COAL FOR EQUITY IN POWER PROJECTS
Though most large power project promoters have their own mines in Indonesia, MEC is confident of convincing Indian companies as its price is quite a ...
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- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Bhatia International Limited - India
- ASAPP Information Group - India
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
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