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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 $1.2 billion has been raised from a consortium of domestic banks led by the State Bank of India.
Ramakrishnan also informed that the total coal requirement for the project is about 12 million tonnes, which the company is planning to source from two Indonesian mines where it holds a stake of around 30 per cent.
“We are looking at other sources apart from Indonesia to meet the remaining requirement. The total requirement for our various projects is around 20 million tonnes,” he said.
The company has chalked out a plan to invest Rs 23,600 crore by the end of the current Plan period in various projects it is implementing currently. This includes, apart from the Mundra UMPP, a 1,050-Mw coal-based power project in Maithon in Jharkhand and two captive power plants of 120 Mw each in Orissa.
Source: Business-Standard
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Saturday, 08 August 09
TWO / THREE YEAR CHARTER RATES FOR SUPRAMAX IS AROUND US$ 15,000-16,000 PER DAY - CAPT. REDDY
COALspot.com (Singapore): The dry bulk market tumbled this week and the BDI dropped by almost 17% and closed at 2,772 points.
The cape and panam ...
Saturday, 08 August 09
SULTAN MINING SIGNS P8-BILLION, 10-YEAR COAL-SUPPLY CONTRACT WITH KEPCO POWER CORP.
COAL developer Sultan Mining and Energy Development Corp. (SMEDC) reported on Thursday that its subsidiary MG Mining and Energy Corp. signed an P8-b ...
Friday, 07 August 09
NEED TO HIKE DOMESTIC PRICES - COAL INDIA
WSJ reported that, The chairman of Coal India Ltd., the country's biggest coal producer, Friday said there was a need to hike domestic coal prices ...
Friday, 07 August 09
INDONESIA COAL NEWS UPDATES
PTBA to Produce 13 Million Tons
President Director of Tambang Batubara Bukit Asam (PTBA), Sukrisno has estimated coal production of the company th ...
Friday, 07 August 09
BALTIC DRY INDEX HAS WORST WEEK SINCE OCTOBER AS DEMAND SLOWS
Bloomberg reported that, The Baltic Dry Index, a measure of shipping costs for commodities, had its worst week since October as Chinese demand for s ...
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- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Australian Coal Association
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
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