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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, 09 March 10
STRONG REBOUND IN ALL THE DRY BULK SEGMENTS THIS WEEK
There was a strong rebound in all the dry bulk segments this week, leading to an 18% jump in the Baltic Dry Index.
The Cape and Panamax markets s ...
Tuesday, 09 March 10
L&T POWER EYEING COAL MINES IN AUS, INDONESIA
L&T Power Development Company, a part of the Larsen & Tubro Group, plans to acquire coal mines in Australia and Indonesia, a top company off ...
Tuesday, 09 March 10
BHP AGREES SHORTER-TERM COAL DEALS WITH EUROPEAN, ASIAN CUSTOMERS
Diversified miner BHP Billiton on Monday reported that it had reached sales terms for a significant portion of its hard coking coal volumes for 2010 ...
Monday, 08 March 10
KPCL TO IMPORT 0.9 MILLION TON OF 6000 GCV COAL
COALspot.com: India's Karnataka Power Corporation Ltd is seeking to import 0.9 million metric tons of 6000 kcal/kg (adb) Gross Calorific Value stea ...
Monday, 08 March 10
CHINA SHIPPING TO CARRY MORE COAL FOR SHENHUA
Hellenic Shipping News reported that, China Shipping (Group) Company will expect to ship 40 million tons of coal for Shenhua Group in 2010, Li Shaod ...
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- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Australian Coal Association
- Minerals Council of Australia
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
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