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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, 15 July 10
NO IMPROVEMENT IN THE DRY BULK MARKET - INTERMODAL
Broker’s insight
With the Baltic Dry Index today (13/7/2010) standing at 1,790 points - the lowest point since early May 2009 - ...
Thursday, 15 July 10
IRON ORE PRICING MECHANISMS PUT ON THE SPOT
THE new iron ore pricing mechanisms that killed off the annual benchmark system are coming under pressure. The spot price of the steel feed has fall ...
Thursday, 15 July 10
NTPC TO PURSUE COAL MINE ACQUISITION IN AUSTRALIA, INDONESIA - BUSINESS STANDARD
Business-Standard reported that, NTPC, the India’s largest power producer, has set the ball rolling to acquire coal mines or form joint ventur ...
Wednesday, 14 July 10
SUCCESSFUL COMMISSIONING OF GTLE LOW RANK COAL UPGRADING PLANT
COALspot.com: GTL Energy Ltd (GTL Energy) announced that construction and commissioning of its proprietary ‘first-of-a-kind’, low rank c ...
Tuesday, 13 July 10
BUMI TO PRODUCE MORE THAN 67 MILLION TONS OF COAL IN 2010
COALspot.com: Bumi resources, Indonesia’s largest coal producer has previewed its operating results in KPC/Arutmin for Jan – Jun 2010. A ...
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- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Planning Commission, India
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
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- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
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- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
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- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- New Zealand Coal & Carbon
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
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