Showing posts with label KOMODO Made in Indonesia. Show all posts
Showing posts with label KOMODO Made in Indonesia. Show all posts

Medco Plans to Provide Natural Gas For Vehicles

Oil and gas company Medco E&P Indonesia aims to expand its downstream and retail business to offer natural gas to fuel vehicles starting next year, an executive said on Tuesday.

“We will try to expand to fuel for vehicles to compensate for our stagnant upstream business,” said Budi Basuki, president director of Medco E&P.

Demand for compressed natural gas for vehicles is low, and only Pertamina gas stations provide CNG, with its use limited to TransJakarta buses.

Medco E&P, a unit of Medco Energi Internasional, has three oil and gas blocks in Indonesia that produce about 180 million cubic feet per day of natural gas and 30,000 barrels of oil per day. Among the buyers for its gas are Palembang-based fertilizer company Pupuk Sriwijaya and state utility Perusahaan Listrik Negara’s power plant in South Sulawesi.

Given its gas production, Budi said Medco E&P has committed to provide up to 25 mmscfd for Jakarta. It plans to build one gas station in the capital next year.

“I hope we can start to sell gas fuel next year,” he said, adding that building a gas station would require about Rp 1 billion ($116,000) in investment.

The money will come from the company’s capital expenditure fund. It has allocated $233 million for capital expenditure this year, double its capex spending from last year, as it continues to exploit its oil and gas fields, including its 29.9 percent stake in the Donggi-Senoro natural gas project.

Budi said the plan was one of the company’s strategies to develop cleaner energy for vehicles.

“We will try to build the natural gas station first. Then we will cooperate with other parties, such as the government, to provide converter kits for vehicles,” he said.

Medco E&P has an agreement with Mandiri, a small company that provides CNG for vehicles in Palembang, to study the demand for the fuel in Jakarta.

“That also includes a strategy on how we can campaign for more CNG use by vehicles,” Budi said.

Indonesian mobnas should learn how Korea produce their own car

There is an interesting story below how Hyundai produce their own car in 1970's manage to become the biggest car producer in the world.

Indonesia's mobnas or national car should learn their story to see that Indonesia is very close to build a made in Indonesia's car. Please read:

In February 1976, Hyundai Motors, still a young Korean automaker, began sales of a new car, the Hyundai Pony.

Strictly speaking, this was not the first Korean car, but it surely was the first Korean car that enjoyed massive commercial success.

The Hyundai Pony launched the car boom inside Korea, and also became the first Korean car to appear in overseas markets.

The Korean car industry is surprisingly young, even though it is somewhat difficult to believe nowadays, when Korea plays a major role in the international automotive industry.

South Korea is the world's fifth-largest producer of motorcars, and in 2009 it produced 3.6 million vehicles, of which roughly two thirds (2.55 million, to be precise) were exported.

The first attempt to make cars locally took place in 1955 when a small Korean company began to assemble copies of the U.S. jeeps, largely using spare parts from de-commissioned military vehicles.

Their efforts attracted much attention and praise back in the 1950s, but the company managed to produce only a small number of vehicles: The market was too weak and the government remained indifferent.

In the 1960s, some Korean entrepreneurs tried to assemble Japanese and American cars, but again with limited success: Korea lacked capital and technology, and the domestic market was very small.

Things changed in the early 1970s when the South Korean government decided to promote the automotive industry as one of the key currency-earners for the country.

This looked like a bold and risky decision at the time: After all, until the early 1960s South Korea had no modern industry whatsoever, and by the early 1970s it was still largely known as a producer of cheap garments, toys and wigs.

By now we can see that this risky decision made perfect sense.

By the 1970s, major South Korean companies accumulated enough expertise to deal with the least demanding types of machine-building, and the military government firmly believed in the advantages of the industrial growth.

General Park Chung-hee, the increasingly authoritarian strongman, had a vision for future Korea, and this vision did not include bucolic villages with thatched roofs, but rather highways, steel mills and gigantic shipyards.

The military rulers did not opt for free competition in the emerging automotive industry and drew a list of companies that would be allowed (and, indeed, required) to mass produce cars.

The list was short, since it included only three companies: Hyundai, Kia and Daewoo. It remained almost unchanged for the next two decades.

To drive away foreign competition, the government introduced high protectionist tariffs that essentially closed the Korean market to outsiders.

It was understood that the first cars would be based on foreign designs, but as a condition of the government's support the producers were required to use an ever increasing amount of locally made spare parts.

The three chosen companies had only limited previous experience in car making.

Hyundai Motors was founded in 1967, and for a while produced some cars in cooperation with Ford and General Motors.

Kia, initially a producer of bicycles, had also experimented with motor vehicles. Nonetheless, the modern mass production industry had to be created from scratch.


In the mid-1970s, a number of locally made cars hit the market.

Kia rolled out its Brisa in early 1974, but it was the Hyundai Pony that came to be affectionately remembered as Korea's first mass-produced car.

Well, this was not completely Korean: Its 1.2L engine and transmissions came from Mitsubishi, while its design was developed by an Italian firm.

Nonetheless, it was produced in Korea, by Korean workers and technicians, and the percentage of the locally produced parts eventually reached an impressive 90 percent.

In 1982, Pony I was upgraded to Pony II, which remained in production until 1990. Pony also has the distinction of being the first Korean passenger car to be exported overseas. The exports began in 1976 when five vehicles were exported to Ecuador.

Eventually, these small cars went to many places in Latin America and the Near East, but soon Hyundai tried an established market; in 1984, the Pony went on sale in Canada.

This led to an unexpected success; for a while, the tiny car from what was still perceived a Third World nation became the top-selling car in Canada.

Indeed, the export played a major role in the growth of the Korean car industry; since the early 1990s between half and two thirds of all Korean cars have been sold overseas.

Nonetheless, the growth of the domestic demand was equally impressive.

In 1970, there were merely 130,000 cars in the nation. In 1985, soon after the debut of the Pony, the number reached the one million mark for the first time.

In 1995, there were eight million cars in Korea, and in 2010 the number of motor vehicles reached the 17 million mark. It seems that the saturation point has been reached: Korea has become a country of the automobile.

The process, which in developed countries took about a century, was complete here in three decades.

How to finance "Mobnas" project

Indonesia is facing difficulties on how to finance "Mobnas" or national car project. Although the demand for Mobnas is extremely high, car producer seem to be fail to finance their project.

To overcome this problem we should understand the background of financing a project as follow.

Project finance is the long term financing of infrastructure and industrial projects based upon the projected cash flows of the project rather than the balance sheets of the project sponsors. Usually, a project financing structure involves a number of equity investors, known as sponsors, as well as a syndicate of banks that provide loans to the operation. The loans are most commonly non-recourse loans, which are secured by the project assets and paid entirely from project cash flow, rather than from the general assets or creditworthiness of the project sponsors, a decision in part supported by financial modeling. The financing is typically secured by all of the project assets, including the revenue-producing contracts. Project lenders are given a lien on all of these assets, and are able to assume control of a project if the project company has difficulties complying with the loan terms.

Generally, a special purpose entity is created for each project, thereby shielding other assets owned by a project sponsor from the detrimental effects of a project failure. As a special purpose entity, the project company has no assets other than the project. Capital contribution commitments by the owners of the project company are sometimes necessary to ensure that the project is financially sound. Project finance is often more complicated than alternative financing methods. Traditionally, project financing has been most commonly used in the mining, transportation, telecommunication and public utility industries. More recently, particularly in Europe, project financing principles have been applied to public infrastructure under public–private partnerships (PPP) or, in the UK, Private Finance Initiative (PFI) transactions.

Risk identification and allocation is a key component of project finance. A project may be subject to a number of technical, environmental, economic and political risks, particularly in developing countries and emerging markets. Financial institutions and project sponsors may conclude that the risks inherent in project development and operation are unacceptable (unfinanceable). To cope with these risks, project sponsors in these industries (such as power plants or railway lines) are generally completed by a number of specialist companies operating in a contractual network with each other that allocates risk in a way that allows financing to take place. "Several long-term contracts such as construction, supply, off-take and concession agreements, along with a variety of joint-ownership structures, are used to align incentives and deter opportunistic behaviour by any party involved in the project." The various patterns of implementation are sometimes referred to as "project delivery methods." The financing of these projects must also be distributed among multiple parties, so as to distribute the risk associated with the project while simultaneously ensuring profits for each party involved.

A riskier or more expensive project may require limited recourse financing secured by a surety from sponsors. A complex project finance structure may incorporate corporate finance, securitization, options, insurance provisions or other types of collateral enhancement to mitigate unallocated risk.

Project finance shares many characteristics with maritime finance and aircraft finance; however, the latter two are more specialized fields.

Basic scheme

Hypothetical project finance scheme

Acme Coal Co. imports coal. Energen Inc. supplies energy to consumers. The two companies agree to build a power plant to accomplish their respective goals. Typically, the first step would be to sign a memorandum of understanding to set out the intentions of the two parties. This would be followed by an agreement to form a joint venture.

Acme Coal and Energen form an SPC (Special Purpose Corporation) called Power Holdings Inc. and divide the shares between them according to their contributions. Acme Coal, being more established, contributes more capital and takes 70% of the shares. Energen is a smaller company and takes the remaining 30%. The new company has no assets.

Power Holdings then signs a construction contract with Acme Construction to build a power plant. Acme Construction is an affiliate of Acme Coal and the only company with the know-how to construct a power plant in accordance with Acme's delivery specification.

A power plant can cost hundreds of millions of dollars. To pay Acme Construction, Power Holdings receives financing from a development bank and a commercial bank. These banks provide a guarantee to Acme Construction's financier that the company can pay for the completion of construction. Payment for construction is generally paid as such: 10% up front, 10% midway through construction, 10% shortly before completion, and 70% upon transfer of title to Power Holdings, which becomes the owner of the power plant.

Acme Coal and Energen form Power Manage Inc., another SPC, to manage the facility. The ultimate purpose of the two SPCs (Power Holding and Power Manage) is primarily to protect Acme Coal and Energen. If a disaster happens at the plant, prospective plaintiffs cannot sue Acme Coal or Energen and target their assets because neither company owns or operates the plant.

A Sale and Purchase Agreement (SPA) between Power Manage and Acme Coal supplies raw materials to the power plant. Electricity is then delivered to Energen using a wholesale delivery contract. The cashflow of both Acme Coal and Energen from this transaction will be used to repay the financiers.

Complicating factors

The above is a simple explanation which does not cover the mining, shipping, and delivery contracts involved in importing the coal (which in itself could be more complex than the financing scheme), nor the contracts for delivering the power to consumers. In developing countries, it is not unusual for one or more government entities to be the primary consumers of the project, undertaking the "last mile distribution" to the consuming population. The relevant purchase agreements between the government agencies and the project may contain clauses guaranteeing a minimum offtake and thereby guarantee a certain level of revenues. In other sectors including road transportation, the government may toll the roads and collect the revenues, while providing a guaranteed annual sum (along with clearly specified upside and downside conditions) to the project. This serves to minimise or eliminate the risks associated with traffic demand for the project investors and the lenders.

Minority owners of a project may wish to use "off-balance-sheet" financing, in which they disclose their participation in the project as an investment, and excludes the debt from financial statements by disclosing it as a footnote related to the investment. In the United States, this eligibility is determined by the Financial Accounting Standards Board. Many projects in developing countries must also be covered with war risk insurance, which covers acts of hostile attack, derelict mines and torpedoes, and civil unrest which are not generally included in "standard" insurance policies. Today, some altered policies that include terrorism are called Terrorism Insurance or Political Risk Insurance. In many cases, an outside insurer will issue a performance bond to guarantee timely completion of the project by the contractor.

Publicly-funded projects may also use additional financing methods such as tax increment financing or Private Finance Initiative (PFI). Such projects are often governed by a Capital Improvement Plan which adds certain auditing capabilities and restrictions to the process.

History

Limited recourse lending was used to finance maritime voyages in ancient Greece and Rome. Its use in infrastructure projects dates to the development of the Panama Canal, and was widespread in the US oil and gas industry during the early 20th century. However, project finance for high-risk infrastructure schemes originated with the development of the North Sea oil fields in the 1970s and 1980s. For such investments, newly created Special Purpose Corporations (SPCs) were created for each project, with multiple owners and complex schemes distributing insurance, loans, management, and project operations. Such projects were previously accomplished through utility or government bond issuances, or other traditional corporate finance structures.

Project financing in the developing world peaked around the time of the Asian financial crisis, but the subsequent downturn in industrializing countries was offset by growth in the OECD countries, causing worldwide project financing to peak around 2000. The need for project financing remains high throughout the world as more countries require increasing supplies of public utilities and infrastructure. In recent years, project finance schemes have become increasingly common in the Middle East, some incorporating Islamic finance.

The new project finance structures emerged primarily in response to the opportunity presented by long term power purchase contracts available from utilities and government entities. These long term revenue streams were required by rules implementing PURPA, the Public Utilities Regulatory Policies Act of 1978. Originally envisioned as an energy initiative designed to encourage domestic renewable resources and conservation, the Act and the industry it created lead to further deregulation of electric generation and, significantly, international privatization following amendments to the Public Utilities Holding Company Act in 1994. The structure has evolved and forms the basis for energy and other projects throughout the world. so we should be aware while using these resorces

Mobnas Offroad Komodo

Selain GEA, Arina dan Tawon, Komodo pun mengambil posisi sebagai kendaraan asli. Setelah GEA, Arina dan Tawon kendaraan hasil kreasi anak bangsa muncul lagi. Yakni Komodo. Mobil ini segmentasinya untuk meluncur di areal non aspal atau offroad.