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Wednesday, 16 December 09
INDONESIA'S FIRST PRIVATE RAILWAY TO BOOST RAK'S MINING INTERESTS
 MEC infra to invest $1b in construction of 130-km transport link
A 130-kilometre railway that will ease the transport of raw materials and finished products in and out of the East Kutai region in Indonesia's East Kalimantan Province — where the Government of Ras Al Khaimah has a major coal mining concession — is ready for construction.
In a meeting between Indonesian President Susilo Bambang Yudhoyono and Shaikh Saud Bin Saqr Al Qasimi, Crown Prince and Deputy Ruler of Ras Al Khaimah, it was announced that the first private railway in Indonesia is ready for construction.
President Yudhoyono and Shaikh Saud were joined by Gita Irawan Wirjawan, Chairman of the Indonesian Investment Coordination Board (BKPM), Madhu Koneru, Group CEO of MEC Holdings, Hari Sankaran, Managing Director and CEO, Infrastructure Leasing and Financial Services Limited (IL&FS) and Allen Alexander Chairman, President and CEO of Savage CANAC Corporation.
This project is fully supported by the Indonesian Investment Coordinating Board as well as the regional governments of East Kalimantan province and East Kutai regency.
Economic ties
"This undertaking will create multiple benefits to the development of the local economy in East Kalimantan. It sets a positive tone for future investments from the Middle East," said President Yudhoyono.
Shaikh Saud said: "This type of public-private, Middle Eastern-Indonesian initiative is a fantastic example of what can be accomplished when the fundamentals make sense for all parties involved. This project will help meet the development needs of East Kalimantan communities, while also serving to meet the energy challenges in Asia, particularly India and China."
MEC Infra will invest $1 billion (Dh3.6 billion) in constructing the railway corridor to link the mine site at Muara Wahau to Bengalon on the coast. Despite certain perceptions about Indonesia, MEC Infra was able to purchase and clear the land for the entire 130 kilometre corridor within a few months.
MEC's mine and railway are central to the development of a complex of integrated industrial facilities that will include a power plant fuelled by coal from MEC Coal, an aluminium smelter, a fertilizer plant and a high capacity port terminal with a total integrated investment valued at $5 billion.
"MEC has formulated strategic partnerships with industry leaders to realise the "Mines to Market" vision. Together with MEC's Madhu Koneru we see the appointment of these industry leaders as a testament to Indonesia's burgeoning future.
"This investment serves as a huge vote of confidence from an investor base that Indonesia shares long term strategic interests with," said Wirjawan.
With equity partner NALCO, an Indian government entity and Asia's largest integrated aluminium complex, MEC and NALCO proposed to invest $2 billion in a Greenfield aluminium smelter producing 500,000 tons of aluminium per annum. A further $2 billion investment will build a 1,250 megawatt captive power plant and other auxiliary facilities for the smelter.
Infrastructure
IL&FS Transportation Networks Limited, (ITNL) a subsidiary of India's IL&FS Group provides MEC financing to build the transportation infrastructure, railway network and deep sea port.
The agreement is on a build, finance and transfer basis. MEC and IL&FS groups hold a shared vis-ion of bringing coal to India, firmly believing the partnership will provide significant benefits for India.
"The land acquisition is almost complete and the project is on schedule. In the next five years MEC's investments alone will create 5,000 new jobs in East Kalimantan. More important, it will transform East Kalimantan into a model for the future of Indonesia by providing a strong platform for growth, helping Indonesia to attract further investments of $20 billion by 2030 and creating more than 100,000 jobs," said MEC's Koneru.
"We are proud to play a role in enhancing the standard of living for the local communities and will remain committed to doing so long after the railroad is built."
Source: Gulf News
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Monday, 28 December 09
INDONESIAN MINER LINKED TO FUGITIVE FINANCIER
The Energy Ministry is unlikely to approve the transfer of ownership of coal miner PT Riau Baraharum on allegations it is indirectly owned by fugiti ...
Monday, 28 December 09
SOMALI PIRATES SAY $4 MILLION RANSOM PAID FOR COAL SHIP
A helicopter dropped a $4 million ransom payment on Sunday on to the deck of a Chinese coal ship hijacked by Somali pirates in mid-October, a pirate ...
Saturday, 26 December 09
COAL INDIA, RIO TINTO MAY HOLD TALKS SOON ON TIE-UP
State owned Coal India Limited (CIL), which is in the race for acquisition of overseas coal properties to plug the demand supply shortfall of the dr ...
Saturday, 26 December 09
COKING COAL PRICES MAY RISE BY 10 - 15% FROM APRIL 2010
The price of coking coal, one of the key raw materials for steel production, is likely to increase by 10-15% in next April, the month in which m ...
Saturday, 26 December 09
COAL INDIA SECURES TWO BLOCKS IN MOZAMBIQUE
It's official now. Mozambique has awarded two coal acreages in its Maotize region with an estimated one billion tonne reserves to Coal India Ltd bu ...
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- Chamber of Mines of South Africa
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- Indonesian Coal Mining Association
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- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- MS Steel International - UAE
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
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- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
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- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
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- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
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- Indika Energy - Indonesia
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- Romanian Commodities Exchange
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- Directorate Of Revenue Intelligence - India
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- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
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- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
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- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
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- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
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- Independent Power Producers Association of India
- White Energy Company Limited
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- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
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- India Bulls Power Limited - India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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