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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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Tuesday, 20 October 09
COAL PRICES TO SURGE IN 2010 DESPITE AMPLE SUPPLY
Commodity Online reported that, Coal prices are indeed destined to go higher as they follow the rise of ‘coal currencies’ such as Austra ...
Tuesday, 20 October 09
INDIA MAY CUT STAKE IN NTPC BY DECEMBER, POWER SECRETARY SAYS
Bloomberg reported that, India’s government may sell a 5 percent stake in NTPC Ltd., the country’s biggest power producer, as early as D ...
Monday, 19 October 09
COAL PRICE UP AGAIN - RICHARDS BAY TERMINAL
Export prices rose 45 cents, or 0.7%, to an average of 64.05 a metric ton in the week ended Oct. 16, according to McCloskey Group.
The week was & ...
Monday, 19 October 09
COAL MINISTRY SEEKS EXPLANATION FROM AP GENCO
The Hindu Business reported that, the Coal Ministry has asked the Power Generation Corporation of Andhra Pradesh (AP Genco) to explain why there was ...
Monday, 19 October 09
CEMENT UNLIKELY TO COST MORE DESPITE COAL PRICE HIKE
Business-Standard reported that, Cement manufacturers will not immediately hike prices of the construction material, despite a surge in their input ...
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- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Agrawal Coal Company - India
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- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
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- Merrill Lynch Commodities Europe
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- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
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- Eastern Coal Council - USA
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- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Parliament of New Zealand
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- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
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- The State Trading Corporation of India Ltd
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- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
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- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
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- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
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- Bayan Resources Tbk. - Indonesia
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- Ministry of Finance - Indonesia
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- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
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- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
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- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
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- Australian Coal Association
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- Chettinad Cement Corporation Ltd - India
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- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
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- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
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