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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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Wednesday, 21 October 09
INDONESIA'S BUKIT ASAM GETS COAL RAILWAY APPROVAL
Reuters reported that, Indonesian state coal miner PT Tambang Batubara Bukit Asam Tbk said on Wednesday it had been given government approval to sta ...
Wednesday, 21 October 09
COAL DEMAND SOARS AS ASIA ECONOMIES REBOUND - PEABODY
Reuters reported that, Demand for coal to generate electricity and make steel in China and India is expected to grow by 7 percent to 8 percent annua ...
Wednesday, 21 October 09
INDONESIAN SHOCK FOR INDIAN POWER PLANTS
Business-Standard reported that, India’s ambitious plans to generate an additional 180,000 Mw of power in the next seven years will face hurdl ...
Wednesday, 21 October 09
DUTA GRAHA PLANNING TO DELVE INTO MINING SECTOR
The Jakarta Globe reported that, PT Duta Graha, one of the country’s largest private engineering firms, says it intends to diversify into the ...
Tuesday, 20 October 09
RECAPITAL SET TO BUY INDONESIA'S BERAU COAL - SOURCES
* COULD PAY AT LEAST $1.3 BLN FOR BERAU - SOURCES
* RECAPITAL CONFIRMS IT HAS BID FOR BERAU
* BAKRIE GROUP LIKELY TO BACK BID – SOURCES
...
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- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
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- Bahari Cakrawala Sebuku - Indonesia
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- PTC India Limited - India
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- Karbindo Abesyapradhi - Indoneisa
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- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
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- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
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- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Electricity Authority, New Zealand
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- Kumho Petrochemical, South Korea
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- Independent Power Producers Association of India
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- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
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- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
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- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
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- Baramulti Group, Indonesia
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- Formosa Plastics Group - Taiwan
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- Sical Logistics Limited - India
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- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
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- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
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- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
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- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
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- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Planning Commission, India
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- The State Trading Corporation of India Ltd
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- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
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- New Zealand Coal & Carbon
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- Indonesian Coal Mining Association
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- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
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- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Parliament of New Zealand
- CNBM International Corporation - China
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
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- Leighton Contractors Pty Ltd - Australia
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- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
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- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
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- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
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