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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, 08 April 10
NAPOCOR GETS ONE OFFER AT COAL TENDER - ABS CBN
ABS- CBN News reported that, Philippine power producer National Power Corp. (Napocor) is likely to buy 50,000 tons of steam coal from PT Berau Coal ...
Wednesday, 07 April 10
DRY BULK MARKET LOOKING FOR DIRECTION
The dry bulk market has kept a low profile during the past week, as evidenced by the small changes of a usually rather turbulent Baltic Dry Index (B ...
Tuesday, 06 April 10
NEWCASTLE COAL EXPORTS RISE 24%, SHIP QUEUE SHORTENS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in power st ...
Tuesday, 06 April 10
UAE STEEL TRADERS FEAR LOSSES ON GLOBAL HIKE
A sudden spurt in the price of iron ore in the international market has caught local steel traders and manufacturers and a host of other steel-depen ...
Tuesday, 06 April 10
ASIAN INVESTORS EYE NIGERIA MARITIME INDUSTRY
Investors from the Asian region are considering investing in the Nigerian maritime sector, which has huge opportunities and potential. One of such p ...
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- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- The University of Queensland
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
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