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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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Thursday, 05 August 10
DRY BULK LOOKING TO CHINA FOR A NEW RALLY, BUT INDIA COULD BE THIS YEAR'S SURPRISE
The dry bulk market’s rebound has hit a “wall” this week, with the industry’s benchmark, the BDI (Baltic Dry Index) ending i ...
Wednesday, 04 August 10
MALAYSIA'S AGATE GROUP TIES UP WITH INDIA'S ECOGREEN TO DEVELOP COAL BUSINESS
COALspot.com: "Malaysian based AGATE Group had entered into an agreement with India's EcoGreen to jointly develop coal business in India ...
Wednesday, 04 August 10
ADARO PRODUCED 21.62 MILLION TONS OF COAL IN 1H 2010
COALspot.com: “Adaro Energy’s production volume during the second quarter of 2010 was 10.26 million tones and for the first half of 2010 ...
Wednesday, 04 August 10
CIL TO TAKE UP NEW PROJECT TO MEET INCREASED DEMAND OF COAL
As part of Annual Plan 2010-11, Planning Commission has projected all India demand of coal 656.31 Million Tonnes against which the indigenous supply ...
Tuesday, 03 August 10
INDONESIA CONSIDERING RUPIAH DENOMINATION
The jakarta post reportd that, the central bank is deliberating a potential Rupiah denomination in light of decreasing exchange rate valuations agai ...
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- Grasim Industreis Ltd - India
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- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
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- MS Steel International - UAE
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- Georgia Ports Authority, United States
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- Coal and Oil Company - UAE
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- Barasentosa Lestari - Indonesia
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- Global Green Power PLC Corporation, Philippines
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- Deloitte Consulting - India
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- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
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- White Energy Company Limited
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- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
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- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
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- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
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- Petron Corporation, Philippines
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- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
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- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
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- Australian Coal Association
- Edison Trading Spa - Italy
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- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
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- London Commodity Brokers - England
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