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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 $1.2 billion has been raised from a consortium of domestic banks led by the State Bank of India.
Ramakrishnan also informed that the total coal requirement for the project is about 12 million tonnes, which the company is planning to source from two Indonesian mines where it holds a stake of around 30 per cent.
“We are looking at other sources apart from Indonesia to meet the remaining requirement. The total requirement for our various projects is around 20 million tonnes,” he said.
The company has chalked out a plan to invest Rs 23,600 crore by the end of the current Plan period in various projects it is implementing currently. This includes, apart from the Mundra UMPP, a 1,050-Mw coal-based power project in Maithon in Jharkhand and two captive power plants of 120 Mw each in Orissa.
Source: Business-Standard
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Wednesday, 26 August 09
COAL INDIA MAY HIKE COAL PRICES BY UP TO RS 175 (ABOUT US$ 3.60) A TONNE
The Economic Times reported that, state-owned Coal India may hike coal prices by up to Rs 175 (~ US$ 3.60) a tonne to close the gap between domestic ...
Tuesday, 25 August 09
KOREA TO INTRODUCE COAL-MINING ROBOTS TO REDUCE THE RISK OF HUMAN LOSSES FROM CONVENTIONAL MINING
Far East Gizmos reported that, The state-run Korea Coal Corp. (KOCOAL) signed a memorandum of understanding (MOU) on Monday with three Korean engine ...
Tuesday, 25 August 09
INDIA'S GNFC EXTENDED ONLINE BIDDING FOR PURCHASE OF 260,000 T COAL TO 23RD SEPTEMBER 2009
COALspot.com (India): Gujarat Narmada Valley Fertilizers Co. Ltd. (GNFC) invites offers (e-Tender) for supply of 130,000 MT +/- 5% on firm basis and ...
Tuesday, 25 August 09
ANTAM CONSIDERS ACQUIRING BHP
The Jakarta Post reported that, State mining company PT Aneka Tambang (Antam) is contemplating acquiring BHP Billiton's coal concessions in Central ...
Tuesday, 25 August 09
COAL OUTPUT TO RISE IN H2 BUT EXPORTS TO GO FLAT
The leading english news paper in Indonesia reported that, It is estimated coal production will rise by 5.7 percent in the second semester from a ye ...
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- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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