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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, 17 July 10
BULLISH OUTLOOK FOR COKING COAL - MINING MX & HELLENIC SHIPPING
Mining Mx reported that, the coking coal market has better long-term fundamentals than the iron ore market, according to a recent research rep ...
Friday, 16 July 10
CHINA EXPORTS 10.14 MILLION TONNES OF COAL IN H1 OF 2010
China exported 10.14 million tonnes of coal in the first half of this year, down 13.1% compared with the corresponding period of last year, accordin ...
Thursday, 15 July 10
SMC TO PURSUE MINDANAO COAL MINING PROJECTS
Philippine Daily Inquirer reported that, DIVERSIFYING CONGLOMERATE San Miguel Corp. is inclined to pursue its coal mining projects in Mindanao ...
Thursday, 15 July 10
ADANI ENTERPRISES WILL BUY $1 BILLION COAL MINE FROM LINC ENERGY - TOP NEWS
Top News reported that, Adani Enterprises has almost managed to obtain a coal mine from Linc Energy for $1 billion in Queensland, Australia. This mi ...
Thursday, 15 July 10
ADANI TO DEVELOP COAL EXPORT TERMINAL IN AUSTRALIA - BUSINESS STANDARD
Business-Standard reported that, The Adani Group, promoter of Mundra Port and Special Economic Zone (MPSEZ), today said it has been selected as the ...
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- Cigading International Bulk Terminal - Indonesia
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- Planning Commission, India
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
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- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
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- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
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- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
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- The University of Queensland
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- Sojitz Corporation - Japan
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- Bhatia International Limited - India
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- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
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- Electricity Authority, New Zealand
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- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
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- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
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- Power Finance Corporation Ltd., India
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- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
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- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
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- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
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- Kartika Selabumi Mining - Indonesia
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- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
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- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Australian Coal Association
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- The State Trading Corporation of India Ltd
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- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Parliament of New Zealand
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- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Latin American Coal - Colombia
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
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