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Wednesday, 07 October 09
COAL INDIA LOOKS AT LONG-TERM PRICE CONTRACTS
 Economic Times reported that, Coal India is looking at long-term price contracts, of at least three-four year periods, with foreign entities, 54 of them, who have responded to expression of interests (EoI) for strategic partnership with it. The idea is to import coal through this strategic partnership at a price which would be way cheaper than imported coal. In India, consumers either buy coal from the volatile spot market or through one-year contracts.
The coal major will primarily focus on either forming JV companies or collaborating with foreign entities who have coal assets in their respective home country. It is open to investing an aggregate of $1.5 billion in these ventures. CIL had invited expression of interests to form joint ventures or collaborate with mining companies from four countries – United States, Indonesia, Australia and South Africa.
Following his visit to meet interested parties in the US, Mr Partha S Bhattacharyya, chairman CIL said: "Central Mine Planning & Design Institute (CMPDIL) is examining each of these offers. They have made different offers and CMPDIL is examining them to come up with a format for presentation that needs to be made to CIL top bosses by December."
"We found that the companies in the US have not been experiencing much of a rise in production due to demand stagnation. However, they said, adequate investment and rise in demand in the form of orders from India could give them the boost to enhance production and take up additional investment in conjunction with CIL," said Mr Bhattacharyya.
Adding, he said: "We intend to work out the terms of the long term contract through strategic alliances which can be an effective way of importing coal faster and at cheaper prices."
On funding the proposed investments, Mr Bhattacharyya said: "CIL has total reserves of about $5-6 billion. It generates additional reserves of about Rs 3-4K crore (US$ 0. 643 - 0.857 billion) every year that can take care of the domestic investments for expansion and we would be open to investing anything between $1-5 billion for these ventures."
Back home, CIL registered a 9.9% rise to 184.44 million tonnes (167.8) in the first half of 2009-10. However, production from underground mines, which started showing a marginal rise, has declined once again albeit marginally by 0.31 mt to 20.78 mt. Coal offtake, on the other hand, rose 4.3% at 194.3 mt (186.22 mt) in the same period.
The company registered a decline in profit before tax 20% to Rs 3,600 crore (US$ 771,839,976.31 ) against Rs 4,484 crore (US$ 961,369,570.50) in the previous period. It is expecting a Rs 2,000 crore (US$ 428,799,986.84) additional outgo on account of wage revision and a Rs 1,400 crore (US$ 300,159,990.78) tax payout.
On forward E-auction, CIL top bosses said the first few e-auctions did not evince much interest from customers. About 16 lakh tonnes was offered but only about 2 lakh tonnes was picked up. "It seems that the mark-up on the notified price has not attracted adequate interest.
The base prices for e-auction were on cost of production basis subject to a maximum of 100% over notified price, since coal being offered were from underground mines that may have turned unviable if sold at notified prices. However, we need to reduce the base price to attract adequate bidders," he said. (US$ 1 = INR 46.641)
Source: Economic Times
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Wednesday, 07 October 09
ADARO SECURES $500 M LOAN
The Jakarta Post reported that, The country's second largest coal producer, PT Adaro Energy announced on Wednesday that it has secured US$500 milli ...
Wednesday, 07 October 09
WORLD'S LEADING COAL-BASED PP PROJECT TO BEGIN TRIAL PRODUCTION NEXT YEAR IN NW CHINA
Xinhua Net reported that, a coal-based polypropylene (PP) production project in northwest China, believed to be the world's largest one, is to ...
Wednesday, 07 October 09
INDIA SAIL TO IMPORT 10-11 MLN T COAL IN FY10 - EXEC
Reuters reported that, Steel Authority of India Ltd plans to import 10-11 million tonnes of coal in the current year to March, below last year's 13 ...
Wednesday, 07 October 09
DOMESTIC SHIPPING FIRMS READY FOR NEW RULES ON COAL, INDUSTRY GROUP SAYS
The Jakarta Globe reported that, The domestic coal-shipping sector is ready for the introduction of shipping regulations requiring all power station ...
Wednesday, 07 October 09
CHINESE BANK MAY PULL OUT OF SUMATRA COAL RAILWAY
The Jakarta Globe reported that, The Export-Import Bank of China may pull out of a $1.28 billion South Sumatra coal-railway project with state-owned ...
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- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Planning Commission, India
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- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Australian Coal Association
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
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- The State Trading Corporation of India Ltd
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- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- The University of Queensland
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
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- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
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- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
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