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