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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, 12 August 09
COAL INDIA TO IMPORT 4 MLN T 2009/10 - MEDIA
State-run Coal India Ltd plans to directly import 4 million tonnes of coal in the current fiscal year to March 2010, Chairman Partha Bhattacharyya s ...
Wednesday, 12 August 09
CHINA'S LARGEST COAL PRODUCER TO SET UP COAL RESERVES
China's National Development and Reform Commission has commissioned China Shenhua Energy Co., the nation's largest coal producer, to build 10 stor ...
Wednesday, 12 August 09
NALCO SMELTER CONSTRUCTION MAY FACE DELAY
The Jakarta Post reported that, India’s state-run National Aluminum Company (Nalco) may postpone the construction of an aluminum smelter in In ...
Wednesday, 12 August 09
COAL MINE PLAN SHOT DOWN OVER GREEN CONCERNS
The Times of India reported that, In a major setback to Adani Powers, the principal chief conservator of forests (PCCF) has rejected its proposal fo ...
Tuesday, 11 August 09
INDONESIA'S COAL EXPORTS TO INDIA WILL BE EXEMPTED FROM DUTIES STARTING JANUARY 1, 2013 - BERITA SORE
Berita sore reported that, ASEAN is scheduled to sign a long-awaited Free Trade Agreement (FTA) with India in Bangkok on Thursday aimed at boosting ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- MS Steel International - UAE
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
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