NALCO to finalise Indonesia coal deal by JanuaryOctober 2nd, 2010 - 4:30 pm ICT by IANS
Bhubaneswar, Oct 2 (IANS) State-owned National Aluminium Company (NALCO) will finalise a deal with a coal source in Indonesia for its $4 billion aluminium project in that country by January 2011, NALCO director (Finance) B.L. Bagra said Saturday.
The Bhubaneswar-headquartered company had floated tender last month.
Bagra said four bids were received from Indonesian coal firms for the tender and it will take at least one month for the company to evaluate them.
The company will then examine the technical and commercial feasibility. “By the next four months, we should be finalising the deal,” Bagra told IANS.
NALCO had received the expression of interests from the companies like Middle East Coal (MEC), Bumi Murau Coal, Energy Indonesia and Pram Dwi Jaya, he said.
NALCO has already been accorded foreign investment approval by the Indonesian government to set up a 0.5 million tonnes aluminium smelter and a 1,250 MW coal-based thermal captive power plant in East Kalimantan province of that country.
Bagra said NALCO had invited bids from competent coal miners or concession holders for coal reserves in East Kalimantan province having coal mines in close proximity to seaport and fresh water source and infrastructure.
NALCO, Asia’s largest integrated aluminium producer, would import alumina of one million tonnes per annum from its facilities in India in bulk shipment through sea route, he said.
The company, however, requires eight to 10 million tonnes annually of thermal grade coal, about half of which will serve its East Kalimantan project and the rest will meet its energy requirement elsewhere.
Bagra said NALCO has already opened an office in Jakarta, the capital of Indonesia, to expedite the project activities.
It has set an ambitious target of achieving an annual turnover of Rs.25,000 crore by 2020, giving major thrust to diversification and capacity expansion.
The company has decided to venture into new fields of activities beyond aluminium by setting up at least two numbers of diversified projects by 2016.
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- National Aluminium on a major diversification drive: Chairman - Jul 28, 2011
- NALCO gears up for expansion,to enter metal and power sectors - Oct 01, 2010
- NALCO to produce 1,000 MW as independent producer - Apr 19, 2010
- NALCO floats tender to buy two lakh tonne coal - Jul 31, 2010
- NALCO considering alternative site for Indonesia project - Sep 21, 2009
- NALCO shelves project in South Africa, to go ahead in Iran - Nov 17, 2009
- Coal supply disruption shuts power units, hits NALCO plant - Feb 23, 2011
- NALCO chief's tenure extended - Oct 11, 2011
- Government allows NALCO to mine coal - Aug 21, 2011
- NALCO hikes aluminium prices - Jun 01, 2011
- Nalco seeks energy banking ties with GRIDCO - Jul 20, 2011
- India's aluminium demand to grow 7-8 per cent: NALCO - Aug 14, 2012
- NALCO approves stock split, issues bonus shares - Mar 05, 2011
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