Showing posts with label SESCO. Show all posts
Showing posts with label SESCO. Show all posts

Thursday, February 16, 2012

News: Joint agreement on RM5bil aluminium smelting plant

Joint agreement on RM5bil aluminium smelting plant
KUALA LUMPUR: Gulf International Investment Group Holdings Sdn Bhd, headed by local tycoon Tan Sri Syed Mokhtar Al-Bukhary and UAE-based business leader Mohamed Ali Rashed Alabbar, has entered into a joint-venture (JV) agreement with Aluminium Corp of China to develop a US$1.6bil (RM5bil) aluminium smelting plant in Sarawak.
The JV company, Smelter Asia Sdn Bhd, will develop, own and operate the private aluminium smelting plant with an annual capacity of 370,000 tonnes.
The smelter will be located in Samalaju Industrial Park, 60km from Bintulu and some 180km from the Bakun hydroelectric dam. The park has been earmarked by the state government for heavy industries under the Sarawak Corridor of Renewable Energy master plan.
Smelter Asia also executed the principal terms of the power purchase agreement (PPA) with Syarikat Sesco Bhd, the wholly-owned subsidiary of Sarawak Energy Bhd, for over 600MW of power supply to the proposed aluminium smelting plant. Smelter Asia and Sesco will jointly conclude the PPA by mid-year.
Prime Minister Datuk Seri Najib Tun Razak and Chinese Premier Wen Jiabao (second from left) witness the exchange of document between Smelter Asia chairman Mohamed Ali Rashed Alabbar (right) and Aluminium Corp of China deputy GM Zhang Chengzhong
“The global demand for aluminium is projected to grow by an average 4% over the next five years, with Asia driving the demand. Our strategic collaboration will bring the best in class technology to create a modern aluminium plant that will contribute to the socio-economic growth of Sarawak state,” Syed Mokhtar said in a media statement yesterday.
Meanwhile, Alabbar said the plant would not only benefit the country but also support the Asean region's development thrust by providing aluminium, which is critical in driving the massive infrastructure projects that are being planned.
“This signing of joint-venture agreement marks a significant milestone in the course of project development. I believe Smelter Asia would become an indispensable driving force that dramatically stimulates Sarawak's economic growth,” Aluminium Corp deputy general manager Zhang Chengzhong said.
The agreement follows the execution of the heads of agreement for the JV in February.


Source: http://biz.thestar.com.my/news/story.asp?file=/2011/4/29/business/8576388&sec=business

Web: Taib Backs Off Baram!


Taib Backs Off Baram!

Posted Saturday, September 10th, 2011
The Baram River – Taib sees only the flow of money
The climb down over the Baram Dam is very significant and everyone who has stood up in protest should accept credit.  Others should take note that legitimate protest works!
In the face of the growing outrage at the planned destruction of one of Sarawak’s most unspoilt regions and the displacement of tens of thousands of people, even the greedy Chief Minister came to the conclusion that it would be utterly foolhardy to try to fight the upcoming federal election while trying to defend the indefensible.
Now the acquisitive old tyrant hopes that he can brush aside all questions on the subject by saying that the project is “on hold”!
But don’t be fooled
However, this is not a time to heave a sigh of relief.  For Taib and his diminishing gang this is just a tactical retreat. They had realised that his reckless plans were threatening to break his control over some key seats in the area in the face of the growing strength of the opposition.
They calculate that if BN can win the next election then they will have a full five years to come back and push through their plans for SCORE. Baram will be back on the agenda in no time.
So, at every point in this election campaign Taib should be asked why the Baram Dam has not been CANCELLED instead of postponed! 

The full horror of SCORE - no less than 12 new dams to ruin every river in Sarawak
All those 20,000 Kenya, Kelabit, Kayan and Penan who are threatened by that dam and their fellow tribespeople should resist being taken in.  They have had proof that Taib has been fully prepared to turf them out of their homes and swamp the vast area that was their homeland (having stolen all the timber first).
The fact that the old man could even CONTEMPLATE such an act should confirm to them that he can never be trusted with their votes.  Some headmen will say otherwise, of course.  But Taib turned the headmen from chosen representatives of the people into his own paid appointees - now headmen are supposed to say what he tells them to say or they lose their money and position.
Cut off! Many of the displaced people in Sugai Asap can’t afford electricity – even though they were promised it for free
The people should look instead at the disaster that faced the people of Bakun, who were promised jobs, wealth, comfort and grand new lives in return for the destruction of their region. 
Instead, they have been housed in the sink town refugee centre of Sungai Asap, many of them facing hopeless lives with inadequate education and medical services.
What is more, the promises of free water and electricity from the dam that took their livelihoods turned out to be false.  Many of these people have been cut off, because the promised ‘jobs’ have failed to provide them with the money to pay the bills (yet SESCO, run by Taib’s cousin Hamid Sepawe, turns a blind eye to the fact that the billionaire Chief Minister has cheated on his own bills by running a by-pass cable into his house!).
Taib’s dream
The fact that Taib, through his side-kick Planning Minister Awang Tengah, has announced that he has decided to carry on with the Baleh Dam immediately instead, should make it plain to all that Taib has no intention of giving up on his dreams to make himself the richest man on earth by exploiting the natural resources of Sarawak.
The Baleh Dam will also affect thousands of people and destroy great areas and a wonderful stretch of river.  It is just less electorally dangerous for PBB, so all Taib has done is switch the order in which he intends to build his 12 planned dams across all the main rivers of Sarawak.
Not one of these dams serves a single demonstrable need, since the State already had excess electricity provision BEFORE the Bakun dam was completed this year.
Taib is judge and jury of his own projects
No one who is threatened by a dam should think for one minute that Taib has really changed his increasingly feeble mind. Neither should they imagine that there is a single way to stop the old dictator for as long as he is in power.
Taib is the Chief Minister, Finance Minister and Planning Minister driving the whole SCORE project forward as he attempts to raise $66 billion dollars of investment in his schemes.  He has also appointed himself Chairman of the Natural Resources and Environment Board, whose job it is to approve the Environmental Impact Assessment on his own plans! 
So do we think they will get approval?  Do we think that the Chief Minister will approve his own self-enriching scheme?  The situation is laughable, save for being so sad.
The aluminium smelting plant placed just by people’s homes in Mukah has caused multiple health problems. The deadly side-product flourine is caused by the process.
Taib’s dream is to turn Sarawak into a money-making machine for himself.  He has already taken the timber and he has turned much of the land into palm oil plantation – an area he intends to double shortly.  Now he wants to turn the polluted rivers into a vast power generation scheme.
He knows that many countries need this level of power to smelt aluminium and that this process is very unpopular in most places in the world, because it is so dangerous and polluting.  So he is now going round courting the big aluminium companies and inviting them to come and pollute what is left of what used to be one of the cleanest and most untouched areas on earth.
Already many people of Mukah are suffering health problems because of the first such plant, which the Chairman of the Environment Board clearly thought was suitable to be placed right near to their houses and plantation areas in his own constituency.
The rest of the people of Sarawak should look at the sufferers of aluminium poisoning in Mukah and consider the future that the Chief Minister of Sarawak has in plan for them as he walks away dripping in wealth from all the investment that will have passed through his hands.
Source: http://www.sarawakreport.org/2011/09/taib-backs-off-baram/

Wednesday, February 15, 2012

News: Abu Dhabi smelter joins crowded space for Sarawak’s energy


Abu Dhabi smelter joins crowded space for Sarawak’s energy



June 18, 2011

Najib walks beside Abu Dhabi’s Crown Prince Sheikh Mohammed bin Zayed Al Nahyan (right) during an official welcoming ceremony in Putrajaya, June 17, 2011. — Reuters pic
KUALA LUMPUR, June 18 — Oil-rich Abu Dhabi’s RM18.1 billion joint-venture to develop aluminium-related industries in Sarawak is causing concern as it will crowd two other proposed smelters and an existing plant for the use of cheap power from the state’s Bakun Dam.
The Malaysian Insider understands from state officials that the 2,400MW hydroelectric dam can only support two large smelters and, possibly, a smaller one, leaving them to figure out if one of the big investors could pull out from the state.
“Smelting is not a small business. It needs up to 1,000MW for each smelter so Bakun’s 2,400MW is not enough for all,” a state official told The Malaysian Insider on condition of anonymity.
Prime Minister Datuk Seri Najib Razak announced yesterday that the National Economic Council had approved the joint venture by 1 Malaysia Development Berhad (1MDB) and Abu Dhabi’s Mubadala Development Company (Mubadala) to develop a RM12.7billion technologically advanced energy-efficient aluminium smelter.
“Mubadala will also help 1MDB team up with other strategic partners with expertise to develop downstream industries valued at RM5.4 billion,” he told a press conference yesterday.
The investment is expected to create more than 40,000 skilled jobs.

Bakun will not be able to cater to all four smelting plants. — Picture by Mohamad Shoox
Two other large smelters — one by a joint-venture between Cahya Mata Sarawak (CMS) and Rio Tinto Alcan, and another by GIIG Holdings Sdn Bhd and the Aluminium Corp of China Ltd (Chalco) — are still in the early stages of development. Both are looking at establishing smelters with capacities of 720,000 tonnes and 330,000 tonnes, respectively.
The only running smelter at the moment is Press Metal Bhd’s 60,000-tonne plant in Mukah, which has been operational since November 2009. It uses about 10 MW of power that is supplied by Sarawak Energy Bhd.
Sarawak has also announced it will develop other hydro power dams in the future but these dams will not be ready if all the smelting plants take off.
The Sarawak government has exclusive rights to Bakun’s power at a rate of 6.25 sen/kWh, under a deal signed between the state-owned Sarawak Electric Supply Corporation, a subsidiary of Sarawak’s sole electricity provider Sarawak Energy Bhd (SEB), and Sarawak Hidro Sdn Bhd, a unit of the Ministry of Finance Incorporated and owner of the Bakun Dam.
“It looks like one giant smelter might not take off. It could be Rio Tinto’s as they have yet to secure a power purchase agreement,” another source told The Malaysian Insider.
The source also noted environmentalists’ fear of pollution from the number of smelters in the state, known for its vast areas of million-years old rainforest and a fragile eco-system that is home to rare species of flora and fauna.
“Smelting is not a clean industry. There is that concern about pollution that the state must handle,” the source said, adding Sarawak is already facing pressure for its logging industry.
The Miri-based Borneo Research Institute Malaysia (Brimas), a NGO dedicated to protecting the environment and the rights of indigenous peoples, previously expressed health fears from the smelting industry when Rio Tinto first announced its plans for a smelter.
The principal sources of pollution caused by smelting are contaminant-laden air emissions and process waste such as wastewater and slag but newer technologies are available to reduce them.

Source: http://www.themalaysianinsider.com/malaysia/article/abu-dhabi-smelter-joins-crowded-space-for-sarawaks-energy/

Tuesday, February 14, 2012

News: PRESS METAL SARAWAK ALUMINIUM SMELTER TO COMMENCE APR 2009

PRESS METAL SARAWAK ALUMINIUM SMELTER TO COMMENCE APR 2009
2008-06-16 23:45
Construction of the smelter would commence by the 2H-2008, said KOON adding that ALUMINIUM CORP OF CHINA ltd (CHALCO) would provide technology and engineering expertise to PRESS METAL.

" .... In terms of future contribution from the smelter plant, we expect it to be based on the performance of metal (prices on the London Metal Exchange) ..." he said.

KOON added that PRESS METAL would be investing a total of RM700m in the smelter project, of which 70% or RM490m would be financed through borrowings and the balance via internally generated fund. Its net gearing currently stood at 0.8 times.

PRESS METAL had in Feb 2008 entered into a MOU with SYARIKAT SESCO - a unit of state utility SARAWAK ENERGY -to supply 510 MW of electricity from the coal-fired Mukah power plant.

Besides upstream activities, KOON said that PRESS METAL which had a market capitalisation of RM463mon Jun 10, 2008 would focus on expanding its marketing network and producing more value-added products to help improve its profit margin.

For 1QE Mar 31, 2008, PRESS METAL recorded a 54% decline in Net Profit to RM11.43m from RM25.61m in 2007 due to escalating raw material cost, in particular coal used in the power plant.(By KLSETRACKER.com)