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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, 01 April 10
PROFIT AT TWO INDONESIAN COAL MINERS SOARS AS RECOVERY STIRS GREATER DEMAND, HIGHER PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Two of the country’s biggest coal producers enjoyed a surge in profit last year as prices rose and demand pic ...
Thursday, 01 April 10
BHP BILLITON TO SELL STAKE IN MARUWAI TO ADARO - THE JAKARTA POST
The Jakarta Posted reported that, BHP Billiton has agreed to sell 25 percent of its stake in the Maruwai Coal Project in Kalimantan to Indonesia&rsq ...
Thursday, 01 April 10
AUSTRALIAN COAL PRODUCER REJECTS $3 BILLION PEABODY OFFER - STL TODAY
STL today reported that, Australian coal producer Macarthur Coal Ltd. rejected a $3 billion cash takeover bid from Peabody Energy Corp., which seeks ...
Thursday, 01 April 10
TATA POWER EYES MORE COAL FROM INDONESIA FOR ITS FUTURE PLANTS - FINANCIAL EXPRESS
Financial Expressreported that, Tata Power, one of the largest private sector power utilities in the country with interests in generation, transmiss ...
Wednesday, 31 March 10
COAL INDIA MULLS JOINT VENTURE WITH RIO TINTO AND PEABODY - DNA
DNA reported that, Coal India Ltd. (CIL) has finalised two key contenders for its international joint venture (JV) in Australian and US each. The co ...
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- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
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