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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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Thursday, 28 January 10
COAL - VIETNAM / TRADE
Vietnam expects to turn into a coal importer within three years, spurred by an industrial boom and rising power consumption, a senior executive with ...
Thursday, 28 January 10
JAPAN STEELMAKERS OPPOSE QUARTERLY COAL CONTRACTS
Japanese steelmakers oppose miner BHP Billiton's attempt to switch to quarterly contracts from annual deals for supplying coal, as the change would ...
Thursday, 28 January 10
BHP MAY SELL 25% STAKE IN INDONESIAN COAL PROJECT
BHP Billiton Ltd. plans to sell only a 25 percent stake in a coal project in Indonesia as it wants to retain control of the asset, said Indra Dianna ...
Thursday, 28 January 10
TRANSNET ASPIRES TO 81MT/Y COAL EXPORT CAPACITY
South African State-owned rail transport enterprise Transnet wants to increase coal-line rail capacity to 81-million tons a year as part of its Quan ...
Wednesday, 27 January 10
ASIA'S 2010 STEAM COAL IMPORTS TO REACH 460 MLN T
* China to import up to 100 mln T of steam coal in 2010
* China, India seen investing in southern Africa assets
Asian imports of steam coal will ...
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- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
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- Parliament of New Zealand
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- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
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- Power Finance Corporation Ltd., India
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- Standard Chartered Bank - UAE
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- Altura Mining Limited, Indonesia
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- Romanian Commodities Exchange
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- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
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- Posco Energy - South Korea
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- Samtan Co., Ltd - South Korea
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- GMR Energy Limited - India
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- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
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- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
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- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
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- Global Green Power PLC Corporation, Philippines
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- Indian Oil Corporation Limited
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- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
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- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- The University of Queensland
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- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
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- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
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- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
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- Economic Council, Georgia
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- Singapore Mercantile Exchange
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