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Monday, 28 June 10
MEC TO INK COAL-EQUITY SWAP DEALS WITH POWER PROJECTS
 Business Line reported that, First it was power producers moving to pick up stakes in coal mining projects to ensure the raw material supplies.
Now coal miners are beginning to move to pick up stakes in power plants for better returns on the raw material they produce.
Minerals Energy Commodities (MEC), a 50:50 joint venture between Indian industrial minerals producer Trimex Group and the UAE Government-owned RAK Minerals and Metals, which is setting up a coal project in Indonesia, is close to firming up deals with private mega-power projects in India involving swapping coal for equity.
MEC has been talking with some of the major players in the power sector, including Tata Power, JSW Energy and Reliance Power, to push through its business model involving trading of coal in exchange for equity in the power projects.
“There has been a very encouraging response from the power projects in India. We will be concluding such coal-equity swap deals with three major power projects that are in the construction phase. We hope to make an announcement in the next couple of months,” Mr Madhu Koneru, Executive Vice-Chairman of MEC Holdings, told Business Line.
While most major players in the power sector such as Tata Power, JSW and Reliance, are in the process of acquiring coal assets abroad, this will be the first time they will sell equity in exchange for coal.
“This is a win-win situation for both. While we will get better returns on the coal we produce if we have equity in power projects, and power producers can benefit from assured raw material supplies,” Mr Koneru said.
Indonesia project
MEC is setting up a 30-million-tonne coal mining project in Indonesia at a cost of $2 billion, which is expected to start production from 2012.
The joint venture company has decided to earmark half of this production to supply to power projects in India through the equity-coal swap deal, with the rest to be sold in the open market.
“The 15 mt of coal will be sufficient to feed power plants with a total capacity of 4-5,000 MW. We will thus be signing this deal with three power projects with capacity of over 1,000 MW each,” he said.
The deals had taken some time for finalisation as MEC had to do elaborate due diligence to finalise the quantum of equity to compensate for the quantum of coal to be supplied.
What actually yielded encouraging response from the power players is that MEC is willing to supply the coal at production rates, ranging from $30-$35 a tonne, which is lower than the market price.
Source: blonnet
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Saturday, 07 August 10
INDIAN COAL IMPORTS WILL PLAY AN IMPORTANT PART IN KEEPING THE FREIGHT MARKET FIRM IN FUTURE - VISTAAR
COALspot.com: The freight market was volatile with market ending firmed and the BDI crossing 2000 points up by 3 pct, however the BCI was up by 14 p ...
Friday, 06 August 10
KRISHNAPATNAM PORT WINS NON MAJOR PORT AWARD 2ND TIME IN A ROW
COAlspot.com ( Press Release) Krishnapatnam Port, the world-class port on the Indian horizon, took the top honors for the second time in a row, in t ...
Friday, 06 August 10
POLANDS KOPEX GROUP DEVELOPS COAL MINE IN INDONESIA
Polishmarket reported that, Polish mining concern Kopex Group, , is to build the first in Indonesia mechanised underground coal mine. The group is c ...
Thursday, 05 August 10
MORATORIUM MAY HURT NEW PROJECTS: MINING GROUP
The government’s proposed two-year moratorium on issuing new concessions to convert forests and peatlands to other uses may hinder new mining ...
Thursday, 05 August 10
IRON ORE EXPORT BAN COMPOUNDS PROBLEMS OF INDUSTRY - BUSINESS STANDARD
Forex loss of Rs 300 crore (US$ 65.63 million) ; truckers, ports, Railways bear the brunt
The Karnataka government’s move to ban the export ...
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- Krishnapatnam Port Company Ltd. - India
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- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
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- Intertek Mineral Services - Indonesia
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- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
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- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
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- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Agrawal Coal Company - India
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- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
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- New Zealand Coal & Carbon
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- Romanian Commodities Exchange
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- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
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- GAC Shipping (India) Pvt Ltd
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- Therma Luzon, Inc, Philippines
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- Xindia Steels Limited - India
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- SMC Global Power, Philippines
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- Vedanta Resources Plc - India
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- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
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- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
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- Tata Chemicals Ltd - India
- White Energy Company Limited
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- Thai Mozambique Logistica
- Bangladesh Power Developement Board
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- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
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- Global Coal Blending Company Limited - Australia
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- The State Trading Corporation of India Ltd
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- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
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- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
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- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
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- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- The University of Queensland
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- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
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- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- SMG Consultants - Indonesia
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- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
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- Parliament of New Zealand
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
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- Petrochimia International Co. Ltd.- Taiwan
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- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
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