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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, 23 February 10
TRENDS..... DRY BULK MARKET .... TRENDS
The dry bulk market was pulled along by the Capes this week, as fresh enquiry breathed temporary life back into the market. Short period rates also ...
Tuesday, 23 February 10
UAE COMPANY TO ACQUIRE CONTROL OF ALLBOND MAKMUR
The Jakarta globe reported that, Renuka Energy Resources Holding, based in the United Arab Emirates, has signed an agreement to acquire 80 percent o ...
Tuesday, 23 February 10
CIL SHORTLISTS 24 FOREIGN COS FOR JV
India's Economic Times reported that, Coal India has shortlisted 24 foreign firms — six each from the US, Australia, South Africa and Indones ...
Saturday, 20 February 10
THE FREIGHT MARKET CONTINUED TO BE SOFT THIS WEEK - CAPT. REDDY
COALspot.com: The freight market continued to be soft this week as still affect of Chinese new year holidays continue. However the index overall had ...
Friday, 19 February 10
MAKING THE JOINT COOPERATION OF PRIVATE GOVERNMENT IN INDONESIA
COALspot.com - Press Release
1. Revision of the presidential decree 67/2005 has been signed by the President on January 28, 2010 with the public ...
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- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- The University of Queensland
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Planning Commission, India
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
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