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Monday, 15 February 10
INDONESIAN COAL SUFFERS SETBACK AS SUMATRA RAIL LINE HELD UP AGAIN
 State-owned coal miner PT Tambang Batubara Bukit Asam’s $1.06 billion rail project in Sumatra faces more delays, and the cost of the project is likely to rise by more than 10 percent, a source close to the project told the Jakarta Globe.
Bukit Asam and its partners are trying to negotiate a new price with the contractor, and as a result construction may not begin until the second quarter of this year, the source said over the weekend.
Bukit Asam president director Sukrisno confirmed on Sunday that the project faced more delays and that the cost would rise, but he declined to confirm the 10 percent figure.
“We are finalizing the EPC [engineering, procurement and construction] contract with [contractor] China Railway. If it’s not finalized then we can’t start,” Sukrisno said. “There has been an increase in the project value, and therefore we have to evaluate and negotiate first.”
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"Transpacific Railways and China Railway Engineering formed a joint venture company — PT Bukit Asam Transpacific Railway — to develop $1.06 billion rail project in Sumatra"
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Bukit Asam hoped that it could solve the issue with the contractor and start construction this quarter, Sukrisno said.
The project involves the construction of a 300-kilometer railway from Bukit Asam’s Banko coal concession in South Sumatra to the port of Srengsem in Lampung.
It was originally announced in 2006. The following year Bukit Asam, Transpacific Railways and China Railway Engineering formed a joint venture company — PT Bukit Asam Transpacific Railway — to develop the project. Bukit Asam has a 10 percent stake, Transpacific 80 percent and China Railway the remaining 10 percent.
However, the project has faced delays because the government did not issue implementing regulations for the 2007 Railway Law until October.
“The companies in the consortium are negotiating with China Railway about the new price of the project,” the source said. “Based on both parties’ calculations and a hired mining consultant from Australia, the project value has increased by more than 10 percent. It should be finalized by the end of February but the project’s construction may not start until the end of the first quarter or early in the second quarter.”
Completion of the project would mark the first time private investors have held a controlling stake in a railway since state-owned railway operator PT Kereta Api took over the nation’s railways in 1963. The 2007 Railway Law rolled back Kereta Api’s monopoly on the country’s rail network.
Discussing financing of the project, Sukrisno said the joint venture had finalized arrangements with the Export-Import Bank of China this month.
“China Exim Bank has committed to finance 85 percent of the project, up from 70 percent previously,” he said.
The rail project will allow Bukit Asam to significantly boost output from its Banko mine. Currently, the mine produces around 11 million to 12 million tons of coal a year.
If the rail project is completed by 2013 as scheduled, coal output could be increased by 5 million tons in 2014, 10 million tons in 2015 and 22 million tons in 2016, Sukrisno said.
Source: The Jakarta Globe
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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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- Cement Manufacturers Association - India
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- Chamber of Mines of South Africa
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- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
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- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
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- ASAPP Information Group - India
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- Rashtriya Ispat Nigam Limited - India
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- Toyota Tsusho Corporation, Japan
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- Billiton Holdings Pty Ltd - Australia
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- Electricity Generating Authority of Thailand
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- Singapore Mercantile Exchange
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- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
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- New Zealand Coal & Carbon
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- Indonesian Coal Mining Association
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- CIMB Investment Bank - Malaysia
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- Indogreen Group - Indonesia
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- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
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- PTC India Limited - India
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- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
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- Altura Mining Limited, Indonesia
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- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
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- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
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- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
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- The University of Queensland
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- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
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- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
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- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Interocean Group of Companies - India
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- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
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- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
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- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
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- Offshore Bulk Terminal Pte Ltd, Singapore
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