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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-$35 a tonne, which is lower than the market price.
Source: blonnet
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Tuesday, 30 March 10
PRICES FOR COKING COAL, IRON ORE TO SOAR AMID BURGEONING STEEL DEMAND: SCOTIABANK
Winnipeg Free Press reported that, Strong steel demand from China and a recovery in the developed world will push coking coal prices 56 per ce ...
Sunday, 28 March 10
DEMAND FROM INDIA RESHAPING THE GLOBAL COAL MARKET - DAVE FOREST
Attention international coal industry. There's a new kid on the block.
The nation of India.
India is emerging as a major re-shaping force for ...
Sunday, 28 March 10
SHIPS FROM WC INDIA TO CHINA CONTINUED TO BE FIXED AT HEALTHY LEVELS AT AROUND US$ 50/52,000 PER DAY - VISTAAR
COALspot.com: The dry bulk freight market seemed to be heading for a correction with all the indices dropping by 8-10 pct except for handy size whic ...
Saturday, 27 March 10
CHINA DROUGHT MAY RAISE COAL DEMAND, BOOST PRICES, CLSA SAYS - BLOOMBERG
Bloomberg reported that, Droughts in southwest China may increase demand for coal used in power plants, and ‘support” prices in the &ldq ...
Saturday, 27 March 10
CHINA TO REMAIN NET COAL IMPORTER IN NEAR FUTURE - STEEL GURU
Xinhua News cited Mr Wu Chenghou a councilor with the China Coal Transportation and Marketing Association as saying that China will remain a net coa ...
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- Thai Mozambique Logistica
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- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
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- New Zealand Coal & Carbon
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- Bhatia International Limited - India
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- GAC Shipping (India) Pvt Ltd
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- White Energy Company Limited
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- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
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- Port Waratah Coal Services - Australia
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- Salva Resources Pvt Ltd - India
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- IEA Clean Coal Centre - UK
- Economic Council, Georgia
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- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
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- Merrill Lynch Commodities Europe
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- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
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- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
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- Barasentosa Lestari - Indonesia
- Planning Commission, India
- McConnell Dowell - Australia
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Parliament of New Zealand
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- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
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- Karbindo Abesyapradhi - Indoneisa
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- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- London Commodity Brokers - England
- VISA Power Limited - India
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
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