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Wednesday, 17 February 10
VEDANTA SET FOR PORTS ENTRY WITH VIZAG TENDER
 Vedanta, along with Leighton Contractors India, quoted a revenue share of 38.1% to win the 30-year contract
Mining and metals conglomerate Vedanta Resources Plc, controlled by Anil Agarwal, looks set to enter the ports business after submitting the best bid in the tender to upgrade and mechanize a general cargo berth to handle coking coal and steam coal at the Union government-owned port at Visakhapatnam, or Vizag, in Andhra Pradesh.
The price bid for the Rs 600 crore (US$ 130,420,614) project with a capacity to handle 10.18 million tonnes (mt) of coking and steam coal was opened on Monday.
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“Vedanta, along with Leighton Contractors India, quoted a revenue share of 38.1% to win the 30-year contract”
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The London Metal Exchange-listed Vedanta Resources is Agarwal’s holding company and owns controlling stakes in Sterlite Industries India Ltd, Hindustan Zinc Ltd, Sesa Goa Ltd, Vedanta Aluminium Ltd and Konkola Copper Mines Plc in Zambia.
Vedanta, which bid for the project with Leighton Contractors (India) Pvt. Ltd, quoted a revenue share of 38.1% to win the 30-year contract, said an official at Vizag port who did not want to be named as the process wasn’t complete. The board of Vizag port will meet in the next few days to approve the bid, the port official said.
The bidder willing to share the highest percentage of annual revenue with the government-owned port will be given the contract, according to rules for the award of public-private partnership projects auctioned by the Union government in the sector.
The Tariff Authority for Major Ports, the tariff regulator for 11 of the 12 Central government ports such as Vizag, has approved a coal-handling rate of Rs 131.94 (US$ 2.86) per tonne at the new berth. Vedanta’s quote would mean it will share Rs 50.26 (US$ 1.09) of the revenue earned from handling each tonne of cargo.
Vedanta could not be immediately reached for comment.
Mundra Port and Special Economic Zone Ltd, which runs India’s biggest private port at Mundra in Gujarat, quoted 32.09%. A consortium comprising IL&FS Maritime Infrastructure Co. Ltd and ABG Ports Ltd quoted a revenue share of 31.97%. Others in the race for the project were Gammon Infrastructure Projects Ltd and Vadinar Oil Terminals Ltd. Larsen and Toubro Ltd, another shortlisted bidder, backed out without bidding.
“It is a very aggressive bid,” said a rival executive, who asked not to be identified.
Besides this deal, Vedanta is one of the shortlisted bidders for a Rs 1,407 crore (US$ 305,836,340) container terminal at the Union government-owned Ennore port in Tamil Nadu. The group has also filed a so-called expression of interest to develop and operate a Rs 6,700 crore (US$ 1,456,363,525) container terminal at Jawaharlal Nehru Port, India’s busiest container port, near Mumbai.
Apart from ports, Agarwal last year announced his intention to enter the steel business with a partner. The group also has plans to build power plants that can produce 11,000MW of electricity with an investment of some Rs 45,000 crore (US$ 9,781,546,068).
The Union government controls a dozen big ports that together handled 530.53 mt of cargo in the year ended March, accounting for some 72% of India’s external trade shipped by the sea route.
The government plans to double the cargo handling capacity of the 12 ports to 1,016 mt by 2012 from 574.77 mt as economic growth strains existing facilities.
The additional 442 mt capacity will require an investment of close to Rs 55,804 crore (US$ 12,129,986,595) , out of which Rs 36,868 crore (US$ 8,013,912,009) will come from the private sector and the balance from the internal resources of the ports and government budgetary support, according to the shipping ministry. (1 USD = 46.0050 INR)
Source: Livemint
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Thursday, 28 January 10
COAL - VIETNAM / TRADE
Vietnam expects to turn into a coal importer within three years, spurred by an industrial boom and rising power consumption, a senior executive with ...
Thursday, 28 January 10
JAPAN STEELMAKERS OPPOSE QUARTERLY COAL CONTRACTS
Japanese steelmakers oppose miner BHP Billiton's attempt to switch to quarterly contracts from annual deals for supplying coal, as the change would ...
Thursday, 28 January 10
BHP MAY SELL 25% STAKE IN INDONESIAN COAL PROJECT
BHP Billiton Ltd. plans to sell only a 25 percent stake in a coal project in Indonesia as it wants to retain control of the asset, said Indra Dianna ...
Thursday, 28 January 10
TRANSNET ASPIRES TO 81MT/Y COAL EXPORT CAPACITY
South African State-owned rail transport enterprise Transnet wants to increase coal-line rail capacity to 81-million tons a year as part of its Quan ...
Wednesday, 27 January 10
ASIA'S 2010 STEAM COAL IMPORTS TO REACH 460 MLN T
* China to import up to 100 mln T of steam coal in 2010
* China, India seen investing in southern Africa assets
Asian imports of steam coal will ...
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Showing 6046 to 6050 news of total 6871 |
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- Energy Link Ltd, New Zealand
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- Bharathi Cement Corporation - India
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- Gujarat Mineral Development Corp Ltd - India
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- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
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- Semirara Mining Corp, Philippines
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- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- MS Steel International - UAE
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- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
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- Australian Commodity Traders Exchange
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- Indian Oil Corporation Limited
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- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Romanian Commodities Exchange
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- Orica Australia Pty. Ltd.
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- Indonesian Coal Mining Association
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- Alfred C Toepfer International GmbH - Germany
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- Globalindo Alam Lestari - Indonesia
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- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Planning Commission, India
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
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- Star Paper Mills Limited - India
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- Minerals Council of Australia
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- Indian Energy Exchange, India
- Bhatia International Limited - India
- The University of Queensland
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- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
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- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
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- London Commodity Brokers - England
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- Thai Mozambique Logistica
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- Georgia Ports Authority, United States
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- SN Aboitiz Power Inc, Philippines
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- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
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- Oldendorff Carriers - Singapore
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
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- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
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- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
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- AsiaOL BioFuels Corp., Philippines
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- Billiton Holdings Pty Ltd - Australia
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- Trasteel International SA, Italy
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- San Jose City I Power Corp, Philippines
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- Chamber of Mines of South Africa
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- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- VISA Power Limited - India
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
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- Maheswari Brothers Coal Limited - India
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