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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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- Global Business Power Corporation, Philippines
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- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
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- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Central Electricity Authority - India
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- Ministry of Finance - Indonesia
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- Madhucon Powers Ltd - India
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- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
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- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Standard Chartered Bank - UAE
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- IEA Clean Coal Centre - UK
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- Eastern Coal Council - USA
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- Metalloyd Limited - United Kingdom
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- The Treasury - Australian Government
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- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Parliament of New Zealand
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- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
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- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
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- White Energy Company Limited
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- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
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- Thai Mozambique Logistica
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- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
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- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
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- Global Coal Blending Company Limited - Australia
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- Attock Cement Pakistan Limited
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- Electricity Authority, New Zealand
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- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
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- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
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- The University of Queensland
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- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
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- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
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- Planning Commission, India
- MS Steel International - UAE
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- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
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- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
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