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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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Monday, 07 September 09
VALE SPENT $300 MILLION AT MOZAMBIQUE COAL MINE
Bloomberg rported that, Vale SA, the world’s biggest iron- ore producer, has so far spent about $300 million of the $1.3 billion investment in ...
Monday, 07 September 09
INDIA MAY BOOST COAL IMPORTS FROM INDONESIA - PLAN JVS
WSJ reported taht, India agreed to study setting up joint ventures with Indonesian companies to acquire coal assets, and look at other means of impo ...
Monday, 07 September 09
INDIAN COAL MAY NOT POWER NEW UMPPS
The Economic Times reported that, bidders for new ultra mega power projects (UMPP) may not get assured coal supplies from domestic mines. As per the ...
Saturday, 05 September 09
THE ECI / CHINA (S7) ROUTE SOFTENED BY ALMOST 12% AND THE CHARTER HIRE WAS AT US$ 16,346 PER DAY - VISTAAR
COALspot.com (Singapore): The dry bulk market continued to be stable with the BDI almost same as last week at 2,415 points.The Panamax index went up b ...
Saturday, 05 September 09
SHANXI AIMS TO MAINTAIN 2009 COAL OUTPUT AT LAST YEAR'S LEVEL
Interfax-China reported that, Shanxi Province, the country's second-largest coal producing region, is aiming to keep its annual coal output a ...
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- GVK Power & Infra Limited - India
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- The Treasury - Australian Government
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- PTC India Limited - India
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- Sarangani Energy Corporation, Philippines
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- Energy Link Ltd, New Zealand
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- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
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- Indonesian Coal Mining Association
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
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- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
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- Singapore Mercantile Exchange
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- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
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- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
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- Australian Commodity Traders Exchange
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- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
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- MS Steel International - UAE
- The University of Queensland
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- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
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- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
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- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Planning Commission, India
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
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- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Trasteel International SA, Italy
- Parliament of New Zealand
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- Ministry of Transport, Egypt
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