Tuesday, 04 Oct 2011
ET reported that ISMT which has announced plans to enter the infrastructure sector via its integrated port and power project in Tamil Nadu is looking at acquiring a coal mine in Indonesia as a backward linkage for its fuel requirements.
Mr Rajiv Goel CFPO of ISMT said "We will need 6 to 7 lakh tonnes of coal per annum for both our power plants, the 40 MW captive plants at Chandrapur, in Maharashtra, and the first phase of our Tamil Nadu power plant of 170 MW. This requires a small mine of 25 million tonnes which will then protect both plants."
He added that the first step of environmental clearance for the TN power plant is still awaited while the Indonesian coal mines will not happen just yet. By his estimate, it will be the end of FY 13 before they need to bring in investors for the integrated project.
He further stated "The Tamil Nadu power plant will be a group captive power plant, supplying power to industrial customers and not feed into the state grid. Under the government's rules, such customers have to take a stake totaling 26%, while we are comfortable holding a 50% stake in the special purpose vehicle, Tridem Port and Port Co Pvt Ltd."
Tridem is a proposed INR 10,000 crore integrated port and 2000 MW thermal power plant with the captive port ensuring coal supplies are not disrupted. While the power plant will come first, Mr Goel did not rule out bringing in strategic investors into the port project and scaling it up to handle containers.
Energy costs for the steel maker are a significant outgo which it is trying to curb through setting up captive power plants.
(Sourced from Economic Times)
ET reported that ISMT which has announced plans to enter the infrastructure sector via its integrated port and power project in Tamil Nadu is looking at acquiring a coal mine in Indonesia as a backward linkage for its fuel requirements.
Mr Rajiv Goel CFPO of ISMT said "We will need 6 to 7 lakh tonnes of coal per annum for both our power plants, the 40 MW captive plants at Chandrapur, in Maharashtra, and the first phase of our Tamil Nadu power plant of 170 MW. This requires a small mine of 25 million tonnes which will then protect both plants."
He added that the first step of environmental clearance for the TN power plant is still awaited while the Indonesian coal mines will not happen just yet. By his estimate, it will be the end of FY 13 before they need to bring in investors for the integrated project.
He further stated "The Tamil Nadu power plant will be a group captive power plant, supplying power to industrial customers and not feed into the state grid. Under the government's rules, such customers have to take a stake totaling 26%, while we are comfortable holding a 50% stake in the special purpose vehicle, Tridem Port and Port Co Pvt Ltd."
Tridem is a proposed INR 10,000 crore integrated port and 2000 MW thermal power plant with the captive port ensuring coal supplies are not disrupted. While the power plant will come first, Mr Goel did not rule out bringing in strategic investors into the port project and scaling it up to handle containers.
Energy costs for the steel maker are a significant outgo which it is trying to curb through setting up captive power plants.
(Sourced from Economic Times)
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