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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-$35 a tonne, which is lower than the market price.
Source: blonnet
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Wednesday, 21 July 10
CHARTER RATES FOR BIG SHIPS GO INTO FREEFALL
It is reported that concerns over the slowdown in the mainland construction sector posturing over ore price negotiations and a general summer slowdo ...
Wednesday, 21 July 10
FEWER SHIPS SOLD FOR SCRAP IN JUNE, ADDING PRESSURE TO FREIGHT RATES
The easing of vessel tonnage supply should be among the main concerns among ship owners, especially those active in dry bulk shipping. The reason is ...
Wednesday, 21 July 10
BUKIT ASAM SEALS RP900 BIO COAL DEAL
Souce: Insider Stories
Insider Stories reported that, State-Owned coal producer PT Tambang Batubara Bukit Asam Tbk (PTBA) have agreed t ...
Wednesday, 21 July 10
TUAH TURANGGA BUYS ABP US$ 15.9 MIO
Source: Insider Stories
Insider Stories reported that, Komatsu heavy equipment PT United Tractors Tbk (UNTR) through its wh ...
Tuesday, 20 July 10
CHINA'S RELIANCE ON COAL TO DROP 7% BY 2015 - XINHUA NET
Xinhua Net reported that, China's coal consumption is likely to drop to 63 percent of total energy consumption by 2015, down from 70 percent last y ...
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- Power Finance Corporation Ltd., India
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- Miang Besar Coal Terminal - Indonesia
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- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
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- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
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- Renaissance Capital - South Africa
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- Singapore Mercantile Exchange
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- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
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- Wilmar Investment Holdings
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- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
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- Commonwealth Bank - Australia
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- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
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- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
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- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
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- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
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- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Standard Chartered Bank - UAE
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- White Energy Company Limited
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- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Mintek Dendrill Indonesia
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- Vedanta Resources Plc - India
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- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
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- TeaM Sual Corporation - Philippines
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