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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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Saturday, 12 September 09
$1.5B KALIMANTAN COAL RAIL TENDER EXPECTED BY YEAR-END
The Jakarta Globe reported that, In the second announcement on major coal-railway projects in as many days, Central Kalimantan’s top official ...
Friday, 11 September 09
INDONESIA COAL-PRICES AT $66, SUPPLIERS OFFER AT BARGAIN PRICES
Some Indonesian producers were rushing to sell coal at bargain prices to ease excess stocks and catch shipments before the Muslim Eid Al-Fitr festiv ...
Friday, 11 September 09
ALPHA NATURAL EXPECTS HIGHER MET, STEAM COAL PRICES IN 2010
Mining Weekly reported that, There are encouraging signs that metallurgical coal demand in most key global markets is either returning or poised to ...
Friday, 11 September 09
POWER SECTOR'S DEPENDENCE ON COAL TO CONTINUE
The power sector will continue to be largely dependant on coal-based thermal power plants to meet its energy needs for the next 15-20 years, Power S ...
Friday, 11 September 09
L&T EYES AUSSIE COAL MINE
Commodity Online reported that, Larsen and Toubro is in talks to buy a thermal coal mine in Australia for about $300 million. Thermal coal is used f ...
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- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Australian Coal Association
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
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