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Thursday, 29 October 09
UAE FUND EYES INDIA POWER FOR INDONESIAN COAL
 Reuters reported that, the UAE's Middle East Coal (MEC) is in talks to buy equity stakes in India's power plants in exchange for long-term coal supply, an executive said on Monday.
MEC is joint venture between UAE investment fund RAK Minerals and Metals Investments (RMMI) and UAE-based mining company Trimex. RMMI won a license in March to build a 150 km (93 miles) rail link carrying coal from a mine in Indonesia's East Kalimantan province to a coal terminal.
"We are close to signing a contact with a number of Indian power plants who need to be supplied with coal over the coming 15 years, the deals will be finalised by the end of next month," said Madu Koneru, vice chairman of Middle East Coal.
"India has one of the fastest growing economies and also has a shortage of power supply so that's why we have decided to go ahead with these deals," he told Reuters on the sidelines of a mining conference in Bahrain.
The deals would help MEC find the $500 million in financing it needs for the project, he said. MEC would start approaching institutions for funding once the deals were in place, he added.
RMMI plans to provide $100 million of the initial $600 million investment. Around $500 million will come from institutions such as the World Bank. The rest of the investment would come from additional partners that the company is now seeking, Koneru said.
The project has a cost estimate of around $1 billion.
Middle East Coal plans to start shipments of 3 to 5 million tonnes of thermal coal via road. Once the rail project is complete, shipments would rise to 17 million tonnes, Koneru said.
MEC had raised its projections for how much coal it could ship as it had progressed with planning for the project, Koneru said. Earlier this year, the company said that it would ship 15 million tonnes of coal.
Coal production in East Kalimantan accounts for over half of Indonesia's total coal output, forecast to reach around 230 million tonnes this year. Indonesia is the world's top exporter of thermal coal.
Of the 17 million tonnes, 10 million would be shipped to India, 7 million to China and the remaining two million tonnes to the UAE's northern emirate of Ras al-Khaimah, home to RMMI, said Koneru.
"And right now we are also in talks with Australian and Canadian companies, we hope one of them will operate the rail project," said Koneru.
The mines would be operated by local Indonesian companies.
The company had finalized in the past few weeks a deal to own 130 km of land in East Kalimantan which includes the coal mine.
"This is now private owned land and before we bought it no one was living on it," said Koneru. "But there are six villages in the area. We hope to create job opportunities for their people," he added.
Source: Reuters
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Thursday, 29 October 09
PTC INDIA UNIT CHASES 2.5 MTPA INDONESIAN COAL
Reuters reported that, PTC Energy is in talks with an Indonesian firm to source 2.5 million tonnes per annum (MTPA) coal for its 350-400 MW power to ...
Thursday, 29 October 09
CHINA MAY SEEK THERMAL COAL ELSEWHERE IF AUSTRALIAN EXPORT COSTS RISE, SAYS REPORT
The Australian reported that, CHINA is likely to turn to alternative markets for thermal coal if the cost and availability of Australia's exports a ...
Thursday, 29 October 09
CURRENCIES, ASIA DEMAND TO LIFT EUROPE COAL PRICE
Supportive currency movements and strong Asian demand mean the price of coal delivered into Europe is poised to rise more than 30 percent to above $ ...
Wednesday, 28 October 09
AUSTRALIAN POWER STATION COAL PRICE TOPPED USD 73 A TONNE
Reuters reported that prices of power station coal in Australia, a benchmark for Asia, crept up for the fourth week and topped USD 73 a tonne, as a ...
Wednesday, 28 October 09
MIDDLE EAST COAL EYEING INDIAN POWER PLANTS IN EXCHANGE FOR LONG TERM COAL SUPPLY
Reuters reported that UAE's Middle East Coal is in talks to buy equity stakes in India's power plants in exchange for long term coal supply.
ME ...
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- Xindia Steels Limited - India
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
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- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
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- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
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- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Planning Commission, India
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
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