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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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- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Australian Coal Association
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
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