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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, 26 March 10
CHINA PLANS TO INCREASES IMPORT COAL GREATLY IN 2010
– Asia Pacific Coal Trading & Investment Outlook 2010-
COALspot.com (Press Release): China plans to increase coal import significantly ...
Friday, 26 March 10
NTPC IN TALKS FOR INDONESIAN MINE - LIVE MINT
The deal for the coal mine with 1.8 bn tonnes of reserves may be valued at $1 bn
Live Mint reported that, State-run power utility NTPC Ltd is in ta ...
Friday, 26 March 10
ESSAR GROUP SIGNS DEAL FOR INDONESIAN COAL MINE - BUSINESS LINE
Looking ahead
The coal from the Indonesian mine would provide raw material to the group's power projects
The Aries coal mines acquired by the gro ...
Thursday, 25 March 10
CHINA RAILWAY WINS $4.8 BILLION INDONESIA PROJECT - BLOOMBERG
Bloomberg reported that, China Railway Group Ltd. won a $4.8 billion order from PT Bukit Asam, Indonesia’s state-owned coal producer, for a co ...
Thursday, 25 March 10
INDIAS MAHARASHTRA SEEKS TO IMPORT 3.35 MILLION TONS OF COAL - BLOOMBERG
Bloomberg reported that, Maharashtra State Power Generation Co., a provider of electricity to India’s commercial hub Mumbai, is seeking 3.35 m ...
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- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
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- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
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- Chamber of Mines of South Africa
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- Gujarat Mineral Development Corp Ltd - India
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- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
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- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
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- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
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- Ministry of Finance - Indonesia
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- Orica Australia Pty. Ltd.
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- Australian Commodity Traders Exchange
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- Sarangani Energy Corporation, Philippines
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- Indogreen Group - Indonesia
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- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Central Electricity Authority - India
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- The University of Queensland
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
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