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Monday, 15 February 10
MEC INFRA TO COMMISSION INDONESIA RAIL PROJECT
 A joint venture between Ras Al Khaimah Investment Authority (Rakia) RAK Investment Authority and Minerals Energy and Commodities Holdings, a fully owned subsidiary of Trimex — will commission Indonesia's first private rail project in early 2011, an MEC official told reporters yesterday.
"MEC Infra expects to commission the first cargo train in 2011 with the first phase of development expected to handle 32 million tonnes per annum capacity of coal.
"We have completed the land acquisition for the project and expect to sign the engineering procurement and commissioning (EPC) contract for the rail corridor by May this year," Madhu Koneru, executive vice-chairman of MEC Holdings told reporters.
MEC Infra obtained Indonesia's first private railway licence to develop a 130km integrated freight corridor between Muaran Wahau to the port Bengalon in Kalimantan province.
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"MEC Infra expects to commission the first cargo train in 2011 with the first phase of development expected to handle 32 million tons per annum capacity of coal”
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The rail project is developed as part of infrastructure development for a coal mining project undertaken by MEC Coal, a mining company jointly owned by RakiaRakia and MEC holdings.
MEC Coal is developing one of the largest green field coal mines in Asia, located in the East Kalimantan province of Indonesia.
In addition to exporting coal to India, China and the Middle East, the company is targeting to develop a domestic market for its coal output.
"We do not want to [be] purely dependent on exports. As part of our efforts to develop a captive market for our coal output we have tied up with National Aluminium Company of India to develop a 500,000 tonnes per annum capacity aluminium smelter near our mine," said Koneru.
MEC Coal will take 26 per cent equity stake in the $2 billion (Dh7.3 billion) smelter complex that will also include a 1,250 megawatt captive power plant.
As part of marketing the coal to its end users in India, MEC Coal is planning to enter equity swap deals with coal importers. Through these deals, MEC Coal proposed to take minority stakes in private sector coal based power producers in India while offering them minority stakes in MEC Coal.
Price stability
"This is an innovative structure we are introducing to bring price stability for coal over a long term. As stakeholders in both supply and demand side of coal business it should work to smoothen the impact of price fluctuations," he said.
MEC is negotiating a $1 billion financing of the infrastructure projects around the coal mine including the rail project with Infrastructure Leasing and Financial Services, an India-based infrastructure financing company.
In addition to coal mining and infrastructure development, MEC Holdings is exploring investments in the agriculture sector.
Source: Zawya
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Tuesday, 02 March 10
INDONESIA'S PROTECTED FORESTS NOW OPEN TO DEVELOPMENT
The Jakarta Globe reported that, President Susilo Bambang Yudhoyono has signed a decree to allow mining, power plants and other projects deemed stra ...
Monday, 01 March 10
166 MINING COMPANIES THREATEN ENVIRONMENT
Viva News reported that, the Indonesian Forum for the Environment (Walhi) of East Kalimantan reveals that 166 coal mining companies, which are curre ...
Monday, 01 March 10
IRON ORE PRICE NEGOTIATIONS - 80PCT HIKE SEEN BY CHINESE
China Knowledge quoted an insider from a large Chinese steel company said there will be a significant increase in steel prices in the next few month ...
Sunday, 28 February 10
SUPRAMAX CHARTER RATES FOR ONE YEAR IS AROUND US$ 19,000/20,000 PER DAY - VISTAAR SINGAPORE
COALspot.com : The freight market firmed up by almost 10 pct on Supramax and Handy size and about 7 pct on Panamax.
However it was interesting to ...
Sunday, 28 February 10
MINISTRY SEEKS TWO YEAR DELAY TO IMPLEMENT ENVIRONMENT LAW
The Jakarta Post reported that, The ministry of energy and mineral resources has proposed that the government postpone the implementation of the 200 ...
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- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
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- Chamber of Mines of South Africa
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
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- Parliament of New Zealand
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- Petrochimia International Co. Ltd.- Taiwan
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- Bulk Trading Sa - Switzerland
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- Australian Coal Association
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
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- Simpson Spence & Young - Indonesia
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- Price Waterhouse Coopers - Russia
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- Electricity Authority, New Zealand
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- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
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- Iligan Light & Power Inc, Philippines
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- Economic Council, Georgia
- The Treasury - Australian Government
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- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
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- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
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- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
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- Electricity Generating Authority of Thailand
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- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
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- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
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- Altura Mining Limited, Indonesia
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