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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, 16 April 10
RBCT COAL DISPUTE RESOLVED - MININGMX
Miningmx reported that, the long-simmering spat over the coal allocation for producers who will use the expanded facilities at Richards Bay Coal Ter ...
Friday, 16 April 10
COAL INDIA SELECTS MERCHANT BANKERS TO ACQUIRE OVERSEAS ASSETS -THE HINDU
An investment of about $1.8 billion is expected to be made in these deals
The Hindu reported that, Bank of America-Merill Lynch, Royal Bank of Sc ...
Thursday, 15 April 10
MAJOR THERMAL COAL CONTRACT AT 40% HIGHER PRICE THAN LAST YEAR - BUSINESS STANDARD
Business-Standard reported that, India is expected to import nearly 60 million tonnes of thermal coal this year.
After coking coal and iron ...
Thursday, 15 April 10
RICHARDS BAY ROUNDS BACK TO INDIA SUPRAS WERE FIXED AT MID 20'S
Handy
The BSI remains in a positive momentum and the Atlantic remains unchanged from last week. Fronthaul grain is active which is keeping ballast ...
Thursday, 15 April 10
DRY BULK MARKET SLOWLY GAINING GROUND
The troubled and underperforming capesize sector of the dry bulk market has been experiencing an improved sentiment since Tuesday, a trend verified ...
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- Jaiprakash Power Ventures ltd
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- Electricity Authority, New Zealand
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- White Energy Company Limited
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- VISA Power Limited - India
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- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
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- London Commodity Brokers - England
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- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
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- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
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- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
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- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
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- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- The University of Queensland
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Thai Mozambique Logistica
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- Thiess Contractors Indonesia
- Romanian Commodities Exchange
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- Interocean Group of Companies - India
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- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
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- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
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- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
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- Australian Coal Association
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- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- ASAPP Information Group - India
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- Commonwealth Bank - Australia
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- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
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- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
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- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
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- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
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- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Goldman Sachs - Singapore
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- Straits Asia Resources Limited - Singapore
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