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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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Wednesday, 26 May 10
ADANI GROUP EYES AFRICA FOR COAL MINING PROJECTS
India Info Line reported that, After acquiring coal mines for importing Indonesian coal to run its thermal power plants in the country, the Adani Gr ...
Wednesday, 26 May 10
DRY BULK MARKET SHOOTS UP, CLOSES IN ON POST-CRISIS ERA HIGHS
In an opposite trend than that of the previous week, the Baltic Dry Index (BDI), a benchmark for tracking costs to haul commodities at sea, shot up ...
Wednesday, 26 May 10
BUMI TO CUT UP TO USD 1 BILLION DEBT IN 12 MONTHS
Press Release : PT Bumi Resources Tbk. announced yesterday that it has revived its intent to issue non preemptive shares and added this to the agend ...
Tuesday, 25 May 10
COAL PRODUCTION MAY REACH 320 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce as much as 320 million tons of coal this year, an increase of nearly 7 perc ...
Tuesday, 25 May 10
KALIMANTAN COAL RAIL PROJECT RUNS INTO COST DELAY - THE JAKARTA GLOBE
The Jakart globe reported that, A$1.5 billion coal rail and port project planned for Central Kalimantan may be delayed by a year after a review of t ...
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- Commonwealth Bank - Australia
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Planning Commission, India
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Australian Coal Association
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- White Energy Company Limited
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
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