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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 $1.2 billion has been raised from a consortium of domestic banks led by the State Bank of India.
Ramakrishnan also informed that the total coal requirement for the project is about 12 million tonnes, which the company is planning to source from two Indonesian mines where it holds a stake of around 30 per cent.
“We are looking at other sources apart from Indonesia to meet the remaining requirement. The total requirement for our various projects is around 20 million tonnes,” he said.
The company has chalked out a plan to invest Rs 23,600 crore by the end of the current Plan period in various projects it is implementing currently. This includes, apart from the Mundra UMPP, a 1,050-Mw coal-based power project in Maithon in Jharkhand and two captive power plants of 120 Mw each in Orissa.
Source: Business-Standard
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Friday, 28 August 09
JSW MAY BUY AFRICAN MINE FOR US$ 350
The Economic Times Reported that, The Sajjan Jindal-owned JSW Group is in advanced talks to acquire a coal mine in Swaziland, Africa, at an estimate ...
Friday, 28 August 09
COAL INDIA ALLOWED TO IMPORT COKING COAL
The government Thursday allowed the state-owned Coal India to import coking coal and high grade ash thermal coal by acquiring coal properties abroad ...
Thursday, 27 August 09
CIL TO SPEND US$ 1 - 1.5 BN TO ACQUIRE ASSETS IN 4 COUNTRIES
Business Standard reported that, "Coal India is looking to spend $1-1.5 billion in acquiring mining assets in Australia, Indonesia, South Afric ...
Wednesday, 26 August 09
INDIA'S JSW TO DOUBLE JAIGARH PORT CAPACITY TO 20 MT
Sea Trade Asia reported that, JSW Jaigarh Port, a wholly owned subsidiary of JSW Infrastructure & Logistics, plans to double cargo handling capa ...
Wednesday, 26 August 09
JSW ENERGY NEARS COAL-SUPPLY LINKAGE DEAL IN INDONESIA
Sajjan Jindal-owned JSW Energy is close to finalising a coal-supply linkage pact in Indonesia and is also exploring options of acquiring ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Australian Coal Association
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
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