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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, 30 November 09
INDIA UTILITIES MOVE TO COAL INDEX - PRICING
Indian state utilities are leading a switch to coal index-linked pricing from fixed prices to secure imports and to be visibly paying fair market pr ...
Monday, 30 November 09
RECAPITAL TO ACQUIRE BERAU COAL
Unlisted Indonesian coal producer Berau will redeem outstanding bonds before the acquisition by Recapital Advisers is completed by the end of this y ...
Friday, 27 November 09
IMPORTING LIGNITE INTO COAL RICH KOSOVO
Balkan Insight has discovered that one of Kosovo’s biggest firms is being forced to import lignite from Malaysia and Indonesia, despite estima ...
Friday, 27 November 09
SOUTH AFRICA STILL TOPS IN COAL EXPORT RANKINGS
Mining Weekly reported that, Despite significant coal-mining capacity recently discovered in the Southern African region, according to senior coal a ...
Friday, 27 November 09
BHP SEEKS VARIABLE COKING COAL PRICE IN JAPAN, NIKKEI SAYS
Bloomberg reproted that, BHP Billiton Ltd. has asked Japanese steelmakers to move to pricing of coking coal linked to spot rates rather than negotia ...
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- Ministry of Mines - Canada
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- Metalloyd Limited - United Kingdom
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