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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, 16 February 10
LAW POSES THREAT TO INDONESIA'S COAL INDUSTRY
A zoning law could cost coal miners billions of dollars this year alone, hurt investment in the industry and disrupt the supply of the fuel to the c ...
Tuesday, 16 February 10
KPMG PENS 6-POINT STRATEGY FOR COAL INDIA RESTRUCTURING
Coal India Ltd (CIL) has appointed KPMG Advisory Services Pvt Ltd to advise on consolidating its position as the country’s prime energy provid ...
Monday, 15 February 10
MINING LAW TO BE REVISED
Law No. 4 of 2009 on mineral and coal mining will be revised after a working visit of the Bangka Belitung (Babel) Provincial legislative assembly (D ...
Monday, 15 February 10
EURO COAL PRICES SOFTEN AS CHINESE LUNAR NEW YEAR HOLIDAYS START
Prices of prompt cargoes of coal for delivery into Europe weakened last week on a lack of European demand and market nerves over the possible impact ...
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 f ...
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- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
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- White Energy Company Limited
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- Ministry of Finance - Indonesia
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- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
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- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
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- Global Coal Blending Company Limited - Australia
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- Global Business Power Corporation, Philippines
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- Posco Energy - South Korea
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
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- Mintek Dendrill Indonesia
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- The University of Queensland
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- Vijayanagar Sugar Pvt Ltd - India
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Minerals Council of Australia
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- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
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- SMG Consultants - Indonesia
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- ASAPP Information Group - India
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- ICICI Bank Limited - India
- Ministry of Mines - Canada
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- Ministry of Transport, Egypt
- Parliament of New Zealand
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- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
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- Indogreen Group - Indonesia
- Romanian Commodities Exchange
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- Bangladesh Power Developement Board
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- The State Trading Corporation of India Ltd
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- Energy Link Ltd, New Zealand
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- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
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- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
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- Global Green Power PLC Corporation, Philippines
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