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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, 10 June 10
R-POWER, INDONESIA'S SUGICO INK PACT TO ACQUIRE COAL MINES - ECONOMIC TIMES
Economic Times of India reported that, Anil Ambani-owned Reliance Power has signed a share-sale agreement with Indonesia’s Sugico Group to acq ...
Thursday, 10 June 10
PARAMOUNT MINING CORPORATION REPORTS KEY INDONESIAN JV AGREEMENT
Indonesia focussed Paramount Mining Corporation has reported that its Indonesian subsidiary, PT Paramindo, has concluded a Joint Venture Agreem ...
Wednesday, 09 June 10
INDIA, CHINA TO PROP UP THERMAL COAL DEMAND - COMMODITY ONLINE
Commodity Online : Weakness in thermal coal demand in OECD will continue to be offset by growth in demand in India and China. Therefore, the s ...
Tuesday, 08 June 10
TATA POWER LOOKING TO PICK UP STAKE IN OVERSEAS COAL MINES - ECONOMIC TIMES
Economic Times reported that, Tata Power is looking for a strategic stake purchase in coal mines of Indonesia or South Africa to fuel its upcoming 1 ...
Tuesday, 08 June 10
RUSSIA REPORTED A TENFOLD GROWTH IN COAL EXPORTS TO CHINA IN 1Q 2010 - BRS
A retreat for all the dry bulk segments this week, but especially for the Panamax and Supramax markets. The Panamax 4TC remains over US$30,000/day h ...
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- CNBM International Corporation - China
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- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
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- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
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- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Interocean Group of Companies - India
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- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
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- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
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- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
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- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- The University of Queensland
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Australian Coal Association
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Planning Commission, India
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
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