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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-$35 a tonne, which is lower than the market price.
Source: blonnet
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Friday, 25 June 10
INDIAS THIRD-LARGEST SHIPPING COMPANY BAGS US$ 31 MILLION DEAL WITH SL
Daily Mirror reported that, Mainboard-listed and India-owned dry bulk shipping firm Mercator Lines says it has won a US$ 31 million contract in Sri ...
Friday, 25 June 10
DEMAND FOR COAL COULD BE GRADUALLY RETURNING - FEARNBULK
Handy
Atlantic markets seeing more activity today (23 June 2010) after a slump the last weeks. Supramax vessels open in USG are achieving low/mid ...
Thursday, 24 June 10
INDONESIAS BUMI DECLARED US$ 57.1 MILLION (AMOUNTING TO 30% OF 2009 NET INCOME) AS DIVIDEND
COALspot.com: PT Bumi Resources, Tbk’s Annual General Meeting (AGM) today was successfully held with a quorum of 75.89% resulting in sharehold ...
Thursday, 24 June 10
CHINA TARGETS 3.6 BILLION MT ANNUAL COAL OUTPUT FOR 2015
At a forum in Beijing entitled "Chinese energy strategy and energy development in the 12th five-year plan period (2011-2015)", He Youguo, ...
Thursday, 24 June 10
DRY BULK MARKET AT LOWEST POINT IN EIGHT MONTHS
The dry bulk market’s demise has failed to turn around so far this week, with the industry’s benchmark, the Baltic Dry Index (BDI), yest ...
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- Asmin Koalindo Tuhup - Indonesia
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- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
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- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
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- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Parliament of New Zealand
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- Attock Cement Pakistan Limited
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- Interocean Group of Companies - India
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- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
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- London Commodity Brokers - England
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- White Energy Company Limited
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- Ministry of Transport, Egypt
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- Mjunction Services Limited - India
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- Parry Sugars Refinery, India
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- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
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- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
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- Electricity Authority, New Zealand
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- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
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- GMR Energy Limited - India
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- International Coal Ventures Pvt Ltd - India
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- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
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- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
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- South Luzon Thermal Energy Corporation
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- Malabar Cements Ltd - India
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- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Minerals Council of Australia
- PTC India Limited - India
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
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- Aditya Birla Group - India
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- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
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- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
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- Independent Power Producers Association of India
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- Economic Council, Georgia
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- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
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- Tata Chemicals Ltd - India
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- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
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- The University of Queensland
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- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
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- MS Steel International - UAE
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- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
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