Madhu Koneru, Trimex Group

”Winner of Young Asian Achiever Awards”

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Asian Business Awards Middle East recognizes and awards Asian business leaders at a glittering ceremony in Abu Dhabi .

Dubai, December 9, 2007: The first Asian Business Awards Middle East (ABA ME) was held at the Emirates Palace Hotel, Abu Dhabi. The glittering function was attended by the business community, government dignitaries, and prominent personalities from Asia and the Middle East. Instituted to recognize and award business excellence within the Asian community and nurtures economic relations between the Middle East and the sub-continent.

Presented by Al Barari, the premier property developer based in the capital, have put together this ground breaking event along with event architects Indian Expressions and Real Media. They unequivocally believe that this initiative will spur further growth, cross investment opportunities and promote substantial business practices.

Recognizing Asian business leaders and entrepreneurs who have walked the path of excellence, created and built enterprises in the Middle East and strengthened the traditional historic ties between the two regions, the winners of the ABA ME publicly nominated and polled for are:

Asian Business Awards List - December 9, 2007

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Outstanding Asian Business Man of the Year

Sunny Varkey – Chairman, GEMS Education & Welcare World

Asian Rising Star of the Year

Ramesh Prabhakar – Managing Director, Rivoli Group.

Young Asian Achiever of the Year

Madhu Koneru – Managing Director, RAK Minerals & Metals Investments

Outstanding Asian Contribution to the ME Development

Syed M Salahuddin – Managing Director, ETA Ascon & Star Group

Asian Business Leader of the Year

Yusuf Ali – Managing Director, EMKE Group

Asian Business Awards List - December 9, 2007

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MEC Holdings is seeking more loans from local commercial banks to help finance its big investment in development projects in East Kalimantan, an executive said on Tuesday.

“MEC has placed a billion dollars on infrastructure construction. It has secured a lending deal with international lenders and is looking for possible lending from national commercial banks,” Charles Gaylord Watkins, an MEC director, said on the sidelines of the Indonesia International Infrastructure conference in Jakarta.

The nation is hosting a three-day forum on developing the nation. At the meeting, which was organized by the Indonesian Chamber of Commerce and Industry (Kadin), the government is offering projects such as roads, seaports and airports to foreign investors.

Watkins said the company, a subsidiary of the Dubai-based Trimex Group, had already secured a commitment from US lenders Standard Chartered Bank and Export-Import Bank. Trimex had held several discussions with Indonesian banks, he continued, but had yet to receive any loan commitments.

Madhu Koneru, executive vice chairman of MEC Holdings, said in July that Standard Chartered was ready to lend $750 million to the company.

MEC Holdings Eyes Funding for Kalimantan - April 12, 2011

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MEC has secured 5,000 hectares of land in East Kalimantan for its infrastructure work, Watkins said. The project includes 130 kilometers of railway, a seaport and a mine for low-grade coal. The mine is expected to produce two million to three million tons of coal in the first year before rising to seven million tons by the end of 2014, while the port will be able to harbor two cape-sized ships and have a holding capacity of 34 million tons.

“The project will start as soon as we are clear on the financing,” Watkins said.

The company first announced the project in 2009, but a delay in land acquisition caused MEC to postpone the project. The company’s Web site shows the land acquisition was finalized last year.

Watkins said he appreciated the government’s effort to improve regulations. He said investors were not the only thing the government needs to secure, but also making it easier to implement investment.

Coordinating Minister for the Economy Hatta Rajasa said the government had a number of policies to ease infrastructure investment. They include land reform to prevent uncontrollable price increases and securing land for the public interest. The land acquisition bill is in the final stages in the legislature, Deputy Finance Minister Anny Rachmawati said.

MEC Holdings Eyes Funding for Kalimantan - April 12, 2011

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“Indonesia has huge potential to be the world’s largest geothermal energy producer while the UAE, as chairman of the International Renewable Energy Agency, is willing to promote the use of environmentally friendly energy to the world,” Marty said after meeting his counterpart from the UAE, Sheikh Abdullah bin Zayed Al Nahyan, in Jakarta.

Abdullah said the UAE appreciated Indonesia’s efforts in fighting climate change through the use of renewable energy.

The UAE was also looking to invest in other sectors, including infrastructure, agriculture and tourism, Marty added.

President Susilo Bambang Yudhoyono earlier said the country aimed to become the world’s top user of geothermal energy.

Indonesia currently ranks third in the sector after the United States and the Philippines.

To accelerate the development of geothermal power plants, the government would look to cooperate with international financial institutions and donor countries, Yudhoyono said.

UAE Interested in Indonesia’s Geothermal Sector - October 19, 2010

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The government has set itself a target of attracting around $12 billion in new investment for the sector to boost geothermal energy production to 3,977 megawatts as part of phase two of its 10,000 MW power development project.

Separately, Ras Al Khaimah, one of the emirates, on Tuesday confirmed plans to invest $5 billion in Indonesian construction projects as part of a joint venture with Trimex Group.

MEC Holdings, the venture overseeing all of Ras Al Khaimah and Dubai-based Trimex’s Indonesian projects, would spend $1 billion to build 130 kilometers of railway in Kalimantan, its executive vice chairman, Madhu Koneru, said on Tuesday.

According to MEC, the rail link would be used to transport as much as 64 million metric tons of coal a year.

“Construction will start in 2012 and we expect to complete the project in 2014,” Koneru said after meeting Alwi Shihab, Indonesia’s special envoy to the Middle East.

MEC Holdings would also invest $500 million to develop a coal mine in Muara Wahau, East Kalimantan, and build a port with an annual capacity of up to 34 million tons, Koneru said.

UAE Interested in Indonesia’s Geothermal Sector - October 19, 2010

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