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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 $1.2 billion has been raised from a consortium of domestic banks led by the State Bank of India.
Ramakrishnan also informed that the total coal requirement for the project is about 12 million tonnes, which the company is planning to source from two Indonesian mines where it holds a stake of around 30 per cent.
“We are looking at other sources apart from Indonesia to meet the remaining requirement. The total requirement for our various projects is around 20 million tonnes,” he said.
The company has chalked out a plan to invest Rs 23,600 crore by the end of the current Plan period in various projects it is implementing currently. This includes, apart from the Mundra UMPP, a 1,050-Mw coal-based power project in Maithon in Jharkhand and two captive power plants of 120 Mw each in Orissa.
Source: Business-Standard
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Monday, 31 August 09
INDONESIA ADARO'S NET PROFIT SOARS 1,506 PERCENT ON HIGH PRICES
The Jakarta Post reported that, the country's second largest coal producer, PT Adaro Energy said Sunday that its first-half net profit soared 1,506 ...
Sunday, 30 August 09
THE FUTURES FOR THREE YEARS FOR 2010-2012 IS AROUND PANAMAX / US$ 15,500 & SUPRAMAX / US$ 13,500 PER DAY
COALspot.com (Singapore): The dry bulk market continued to be soft this week and the BDI was almost stable and closed at 2,421 points this week.
...
Friday, 28 August 09
INDONESIA SEEKS TO INCREASE COAL PRODUCTION TO BOLSTER REVENUE
The Jakarta Post, the leading english news paper in Indonesia reported that, Indonesia expects to increase coal production by up to 20 million tons ...
Friday, 28 August 09
MERCURIA ENERGY OPENS INDONESIA TRADING OFFICE
COALspot.com ( Indonesia): Mercuria Energy Group has opened a new office in Jakarta, Indonesia, focussed on trading coal.
Jakarta-based Emanuele ...
Friday, 28 August 09
COAL MINE BUYERS DUST OFF THEIR CASH ( ANALYZED BY REUTERS)
* Coal asset buyers give up waiting for bargains
* Mining majors expected to buy not sell
* South Africa a target, Indonesia less so
By Jackie ...
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- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
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