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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, 23 February 10
UAE COMPANY TO ACQUIRE CONTROL OF ALLBOND MAKMUR
The Jakarta globe reported that, Renuka Energy Resources Holding, based in the United Arab Emirates, has signed an agreement to acquire 80 percent o ...
Tuesday, 23 February 10
CIL SHORTLISTS 24 FOREIGN COS FOR JV
India's Economic Times reported that, Coal India has shortlisted 24 foreign firms — six each from the US, Australia, South Africa and Indones ...
Saturday, 20 February 10
THE FREIGHT MARKET CONTINUED TO BE SOFT THIS WEEK - CAPT. REDDY
COALspot.com: The freight market continued to be soft this week as still affect of Chinese new year holidays continue. However the index overall had ...
Friday, 19 February 10
MAKING THE JOINT COOPERATION OF PRIVATE GOVERNMENT IN INDONESIA
COALspot.com - Press Release
1. Revision of the presidential decree 67/2005 has been signed by the President on January 28, 2010 with the public ...
Thursday, 18 February 10
THE INDIAN MARKET IS FIRMING A BIT, DUE TO LACK OF TONNAGE IN THE REGION
HANDY
The BSI still decline as holidays around the world have reduced trading.
...
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- Georgia Ports Authority, United States
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- Economic Council, Georgia
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Wood Mackenzie - Singapore
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- Price Waterhouse Coopers - Russia
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- Global Coal Blending Company Limited - Australia
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- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
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- SN Aboitiz Power Inc, Philippines
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- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
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- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
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- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
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- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
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- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
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- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
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- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
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- Maheswari Brothers Coal Limited - India
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- The Treasury - Australian Government
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- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
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- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
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- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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