Rice Communications Asia Pacific » RAK Minerals and Metals Investments

World Islamic Economic Forum

Grace — Tue, 31 Mar 2009 13:56:01 +0000

World Islamic Economic Forum
RAK Minerals & Metals Investments

Jakarta, Indonesia l March 2009

RAK Minerals & Metals Investments, a joint venture between the Ras Al Khaimah Investment Authority and the Trimex Group, was a Strategic Partner at the 5^th World Islamic Economic Forum in Jakarta, Indonesia. Gathering the movers and shakers of the Islamic business community including Heads of States, government and corporate leaders, the WIEF was created to foster partnership among Muslim entrepreneurs and between the Muslim and non-Muslim businessmen. WIEF 2009 espoused the theme “Food & Energy Security & Stemming the Tide of the Global Financial Crisis.”

Rice handled all the communications and logistics on behalf of RMMI. The primary objective was to leverage the WIEF’s unique approach to building linkages within the Islamic business and financial world to build the profile of RMMI as Indonesia’s “partner for progress” and promote investments into its massive coal and infrastructure project there.

Rice managed the signing of Government-to-Government Agreements between Ras Al Khaimah and Indonesia, high profile meetings, and media interactions for RMMI’s executives and the delegation of His Highness Sheikh Saud Bin Saqr Al Qasimi, the Crown Prince and Deputy Ruler of Ras Al Khaimah. The Crown Prince had private meetings with Islamic business leaders as well as fellow Heads of States such as Malaysian Prime Minister Dato’ Seri Abdullah Ahmad Badawi, Former Deputy Prime Minister of Malaysia Tun Musa Hitam and Indonesian President Susilo Bambang Yudhoyono.

Rail Network in Indonesia

Grace — Mon, 23 Mar 2009 14:35:41 +0000

Rail Network in Indonesia

SINGAPORE, March 23, 2009 – The Government of Ras Al Khaimah today announced that it has been formally awarded a license for the procurement, construction and operation of a special purpose rail network. The license was granted by the Regency of East Kutai in Indonesia to PT Trans Kutai Kencana, an Indonesian Special Purpose Vehicle (SPV) of RAK Minerals & Metals Investments (RMMI). PT Trans Kutai Kencana is the vehicle for a joint venture between PT Kutai Timur Investama, the investment authority of East Kutai Regency and Middle East Coal Private Limited (MEC), a SPV of RAK Investment Authority.

The commitment to invest into East Kutai from the Government of RAK was announced earlier this month during the signing of a Government-to-Government socio-economic agreement between RAK and East Kalimantan Province in Indonesia. The signing was witnessed by His Highness Sheikh Saud Bin Saqr Al Qasimi, Crown Prince and Deputy Ruler of RAK, and His Excellency President Susilo Bambang Yudhoyono of the Republic of Indonesia at the World Islamic Economic Forum in Jakarta on March 3, 2009.

“East Kalimantan is the largest producer and supplier of thermal coal to both domestic and international markets. The planned infrastructure will strengthen East Kalimantan’s competitiveness by allowing economical coal transportation from the resource-rich hinterland of East Kutai Regency in a scalable and efficient manner,” said Madhu Koneru, Managing Director of RMMI and Vice Chairman of MEC.

Mr. Koneru stated that the first phase of the development program will involve the commissioning of a 17 Million Mt/a coal transportation and handling facility by 2012, while the civil and track work will be completed for a 60 Million Mt/a capacity.

MEC was set up last year to drive investments related to large-scale coal and coal-related infrastructure projects in Indonesia. Headquartered in Singapore, MEC will oversee the construction of the railway and a coal-loading jetty in the province of East Kalimantan. Mr. Koneru shared further updates on the project. “With the completion of the feasibility study by our technical partners ARUP and KMPG and with the license in place, we are definitely set to move forward and fulfill our commitment to build a sustainable investment in Indonesia.”

Global engineering firm ARUP has completed the Detailed Feasibility Study (DFS) and Engineering Design for the 150-kilometer railway line that will connect the district of Muara Wahau to the East Kutai coast in East Kalimantan. The railway will enable the speedy and cost-effective transport of the coal, mined from remote, inaccessible interiors to the coal-loading jetty for easy movement domestically and through to international markets. Construction is estimated to be completed in roughly 30 months upon land and licenses approval. Parallel activities for the construction of ancillary infrastructure is also currently in the pipeline.

ARUP has detailed the railway alignment and transport corridor plan including the requisite foundation infrastructure such as roads and bridges, loading and unloading facilities, terminal and jetty structure, and cargo handling facilities. It has also prepared the procurement costs and construction timetable in close collaboration with consulting firm KMPG, which has developed the overall financial model and risk matrix for the project.

Developing greenfield mineral reserves and investing to build infrastructure where there is none form part of RMMI’s overall long-term strategy. This is done with the objective of securing the power requirements of Ras Al Khaimah as well as mobilizing supply for various markets such as Indonesia, India and Japan, Mr. Koneru said. “Infrastructure investments would allow RAK to maintain a high level of cost management and therefore stabilize prices of energy resources in the long-run,” he added.

PT Trans Kutai Kencana also commences development of a coal-loading jetty with mounted conveyors in the coming weeks. Land acquisition of 250 hectares for the terminal has already been completed. The railway network and the coal-loading jetty infrastructure project is the first initiative under the large-scale socio-economic development partnership between the Government of RAK and the Government of East Kalimantan province, and further cements RAK’s commitment to Indonesia on collaborations for future development.

About Middle East Coal

Combining 70 years of mining experience, the Government of Ras Al Khaimah established Middle East Coal to drive large scale coal and coal-related infrastructure and industrial opportunities in Indonesia and across the Asia Pacific region. Headquartered in Singapore with a wholly-owned subsidiary in Indonesia, MEC is committed to the long-term development of energy resources to secure supply for future generations. It invests in building economically viable and integrated support infrastructure that will enable sustainable and innovative coal development projects. For more information, please visit www.middleeastcoal.com.

About RAK Minerals and Metals Investments

RAK Minerals & Metals Investments, the first Middle Eastern mining company with a global reach, was set up under the patronage of H.H. Sheikh Saud Bin Saqr Al Qasimi, Crown Prince and Deputy Ruler of Ras Al Khaimah. RMMI is a joint venture between RAK Investment Authority (RAKIA), and Trimex Group, an independent minerals company with over 70 years of combined mining experience. RMMI’s investments are long-term in outlook, capitalising on the vast experience of the team to operate the mines; this strategy distinguishes RMMI from investment funds. Focus areas for RMMI are: base metal minerals, energy minerals and industrial minerals, to cater to the growing demand from China, India and the Middle East. For more information, please visit www.rakminerals.com.

Media Contacts

Sonya Madeira Stamp
Head of Communications, Corporate Office
RAK Minerals and Metals Investments (RMMI)
Tel: +65 9450 1090
Email: sonya@rakminerals.com

Donna Garcia
Rice Communications for RMMI Asia
Tel: +65 6227 1550
Email: donna.garcia@ricecomms.com

Mai Abaza
Spot On PR for RMMI Middle East
Tel: +971 4 3491686
Email : maia@spotonpr.com

UAE’s Government of Ras Al Khaimah Granted License for Rail Network in Indonesia

admin — Mon, 23 Mar 2009 06:59:40 +0000

SINGAPORE, March 23, 2009 – The Government of Ras Al Khaimah today announced that it has been formally awarded a license for the procurement, construction and operation of a special purpose rail network. The license was granted by the Regency of East Kutai in Indonesia to PT Trans Kutai Kencana, an Indonesian Special Purpose Vehicle (SPV) of RAK Minerals & Metals Investments (RMMI). PT Trans Kutai Kencana is the vehicle for a joint venture between PT Kutai Timur Investama, the investment authority of East Kutai Regency and Middle East Coal Private Limited (MEC), a SPV of RAK Investment Authority.

ENDS

About Middle East Coal

About RAK Minerals and Metals Investments

Media Contacts

Sonya Madeira Stamp

Head of Communications, Corporate Office

RAK Minerals and Metals Investments (RMMI)

Tel: +65 9450 1090

Email: sonya@rakminerals.com

Mai Abaza

Spot On PR for RMMI Middle East

Tel: +971 4 3491686

Email: maia@spotonpr.com

Donna Garcia

Rice Communications for RMMI Asia

Tel: +65 6227 1550

Email: donna.garcia@ricecomms.com

RAK Minerals fuels Emirates’ future power generation needs

Grace — Mon, 02 Mar 2009 13:19:24 +0000

RAK Minerals fuels Emirates’ future power generation needs

Invests in Coal Assets, Plans Infrastructure Development in East Kalimantan

JAKARTA, March 2, 2009: The Government of Ras Al Khaimah through RAK Minerals and Metals Investments (RMMI), the first Middle East mining company with a global reach, today announced its investment in coal infrastructure in Indonesia’s East Kalimantan province.

RMMI also announced that it has acquired the requisite approvals to commence work on a railway network and coal jetty in East Kutai. Over the next five years, RMMI will invest in resources and in related infrastructure required such as a railway network and a coal-loading jetty. Through this investment, RMMI will be well-placed to support the growing energy requirements in the Middle East, specifically Ras Al Khaimah, United Arab Emirates.

East Kalimantan, the largest province in Indonesia, is rich in mineral and natural resources including coal, gold, petroleum and natural gas. The influx of foreign and domestic investments for offshore oil and gas field exploration, mining and manufacturing operations has made it one of the wealthiest provinces in Indonesia. With new investments in transportation infrastructure, the range of economic activity in the province is expected to expand significantly and reduce the overall cost of doing business.

Ras Al Khaimah is one of the fast growing emirates in the United Arab Emirates. In order to sustain regional development, the Government of Ras Al Khaimah is investing in energy resources and infrastructure in Indonesia. This is to meet the prime objective of investing in alternate energy sources such as coal to produce power at affordable cost. With the coinciding infrastructure investments, RMMI will be able to maintain a high level of cost control and therefore stabilise prices in the long run.

Dr. Khater Massaad, Chief Executive Officer of RAK Investment Authority, signed the agreement with Dr. H. Awang Faroek Ishak, Governor of East Kalimantan Province (Gubernur Propinsi Kalimantan Timur) for the development of the Special Railway Network and Coal Jetty, to support the operation of a Coal Property in East Kutai.

The agreement was signed in the presence of His Highness Sheikh Saud Bin Saqr Al Qasimi, Crown Prince and Deputy Ruler of Ras Al Khaimah, and His Excellency President Dr. Susilo Bambang Yudhoyono of the Republic of Indonesia during the opening of the 5th World Islamic Economic Forum (WIEF) at the Ritz Carlton Hotel, Jakarta.

“Today marks a milestone in our partnership with Indonesia. This agreement demonstrates our unwavering commitment to invest in harnessing the natural and human resources of East Kalimantan and to contribute to the development of the country while addressing the growing demand for energy resources and energy requirements in Ras Al Khaimah,” said Dr. Khater Massaad.

Madhu Koneru, Managing Director of RMMI, who has been responsible for driving this partnership with the Government of East Kalimantan, commented: “Investing in infrastructure is at the centre of our strategic, long-term commitment in Indonesia. We believe that a world-class transportation infrastructure creates a wealth of opportunities not just for our business but equally so for the larger community in which we operate. We will work with various mine owners for the transportation of coal and welcome partnerships.”

Mr. Koneru added, “We would like to thank Governor Awang Faroek for his support of our vision and for making this event possible, and a special word of thanks to Regent Isran Noor of East Kutai for his steadfast commitment to making this dream a reality.”

Dr. Awang Faroek expressed confidence that the agreement will yield concrete economic benefits directly for the people of East Kalimantan and ripple across the country. “East Kalimantan is a prized jewel that contributes significantly to our national growth. With a partner like RMMI, we are assured that our resources will be developed in a responsible and mutually gainful manner for the benefit of our people. We are truly delighted that RMMI is embarking on an infrastructure project that will facilitate industrial development in East Kutai. With infrastructure to support our growth plans, our people will have access to services, products and jobs. We will see more economic activity that, in turn, will lead to greater economic benefit for the provincial and national governments.”

The Regency of East Kutai has nominated its wholly owned subsidiary, PT. Kutai Timur Investama (KTI), to partner in these initiatives. RMMI plans to develop a 30 million metric tonnes per annum (Mt/a) coal infrastructure project. Mining operation is planned to start in early 2010, and will ramp up to 15 million Mt/a to coincide with the completion of the Railway Network.

The agreement signed today heralds the commencement of the Railway Network, scheduled to be completed by 2012. This infrastructure development programme consists of a 125-kilometer special rail track from Muara-wahau to the eastern coast of Kalimantan. The railway will have a carrying capacity of 60 million Mt/a over the next 10-15 years.

RMMI aims to increase mining capacity to 30 million Mt/a by 2020 while developing the required rail and jetty infrastructure in the region to transport and export the coal. Related to this, RMMI is collaborating with the East Kutai Government for the commencement of the initial phase of development of a jetty with mounted conveyors. Land acquisition for this terminal has already been completed.

About RAK Minerals and Metals Investments (RMMI):

RMMI is the first Middle Eastern mining company with a global reach, set up under the patronage of H.H. Sheikh Saud Bin Saqr Al Qasimi, Crown Prince and Deputy Ruler of Ras Al Khaimah. RMMI is a joint venture between RAK Investment Authority (RAKIA), and Trimex Group, an independent minerals company with over 70 years of combined mining experience. RMMI’s investments are long-term in outlook, capitalising on the vast experience of the team to operate the mines; this strategy distinguishes RMMI from investment funds. Focus areas for RMMI are: base metal minerals, energy minerals and industrial minerals, to cater to the growing demand from China, India and the Middle East. For more information, please visit www.rakminerals.com.