Wednesday, 09 Dec 2009
Reuters reported that the UAE Middle East Coal plans to start operation of coal mines in Indonesia's East Kalimantan province next year with initial production of 2 million tonnes destined for India.
Mr Naveen Chandralal CEO of Middle East Coal said "We are looking at full-scale production starting in 2010 with a delivery of 2 million tonnes. He said hat it would also begin work on the coal rail project. The coal will be all exported to India.”
Mr Chandralal said Shipments will subsequently increase up to 32 million tonnes by 2015. He said that "Although India is a key market for coal as the country continues to address its power requirement, MEC would like to be part of the Indian growth story rather than just a supplier of coal."
He added that MEC is close to finalizing agreements to take equity stakes in Indian power plants, but declined to identify them, saying that was confidential information.
Mr Chandralal said the firm also expects to start construction of the railway project to link its mine in Muara Wahau to Bengalon port in East Kalimantan in March 2010. He said that with a view to commissioning the first cargo train by early 2012. He added that the firm has acquired about 80% of the land needed for the project. The project is estimated to cost around USD 1 billion.
Indonesia mostly uses waterways to ship coal as most coal mines are located near rivers or the open sea.
Reuters reported that the UAE Middle East Coal plans to start operation of coal mines in Indonesia's East Kalimantan province next year with initial production of 2 million tonnes destined for India.
Mr Naveen Chandralal CEO of Middle East Coal said "We are looking at full-scale production starting in 2010 with a delivery of 2 million tonnes. He said hat it would also begin work on the coal rail project. The coal will be all exported to India.”
Mr Chandralal said Shipments will subsequently increase up to 32 million tonnes by 2015. He said that "Although India is a key market for coal as the country continues to address its power requirement, MEC would like to be part of the Indian growth story rather than just a supplier of coal."
He added that MEC is close to finalizing agreements to take equity stakes in Indian power plants, but declined to identify them, saying that was confidential information.
Mr Chandralal said the firm also expects to start construction of the railway project to link its mine in Muara Wahau to Bengalon port in East Kalimantan in March 2010. He said that with a view to commissioning the first cargo train by early 2012. He added that the firm has acquired about 80% of the land needed for the project. The project is estimated to cost around USD 1 billion.
Indonesia mostly uses waterways to ship coal as most coal mines are located near rivers or the open sea.
(Sourced from Reuters)
Review: http://steelguru.com/news/index/2009/12/09/MTI0MTUw/MEC_to_ship_2_million_tonnes_Indonesia_coal_to_India_in_2010.html
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