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"إِنَّا مَكَّنَّا لَهُۥ فِى ٱلْأَرْضِ وَءَاتَيْنَهُ مِن كُلِّ شَىْءٍۢ سَبَبًۭا فَأَتْبَعَ سَبَبًا Sesungguhnya Kami telah memberi kekuasaan kepadanya di (muka) bumi, dan Kami telah memberikan kepadanya jalan (untuk mencapai) segala sesuatu, maka diapun menempuh suatu jalan." (QS. AL KAHFI:84-85)
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Kamis, 02 September 2010

Hellenic Shipping Nalco invites bids for coal mining in Indonesia

State-owned National Aluminium Company (Nalco) has invited bids from coal companies in Indonesia to mine its coking coal mines in East Kalimantan province, that has an annual capacity of 10 million tonne, by 2014 The project, the biggest overseas mine venture so far by an Indian company, will use 5 mt of coal for a proposed aluminium smelter in Indonesia and the rest would be shipped to India for use at Nalco’s operations in Orissa, said a senior executive. Nalco plans a Rs 16,000-crore smelter-cum-power project in East Kalimantan province.

“We issued a public notice on August 30 inviting bids from coal owners that own mining licences in Indonesia,” Nalco’s finance director BL Bagra told ET. “Prospective applicants will be required to submit their bids within a month. Specifically, we are looking for partners who have mining licences for coal, infrastructure linkages and land for the project,” he added.

Nalco had signed an agreement with RAK Minerals and Metals of UAE for the smelter project. Under the agreement, RAK was to buy up to 26% stake in an SPV for the project. RAK was chosen as a partner since the tie-up promised to offer better logistics and infrastructure management in south Sumatra, the earlier chosen site for the project.

Nalco relocated from south Sumatra after delays in getting concessions for port and rail infrastructure.It is believed that RAK Minerals could be one of the potential bidders for Nalco’s coal mines. Nalco plans to build a 0.5-million-tonne aluminium smelter and a 1,250-mw power plant in Indonesia.

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