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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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Wednesday, 17 February 10
JORONG COULD COST BANPU 5%
Banpu Plc, Asean's biggest coal miner, forecasts a 5% drop in revenue if its suspended coal mine in Indonesia is closed for one year, says presiden ...
Wednesday, 17 February 10
RUSSIA KRU JAN COAL EXPORTS DOWN 4 PCT
Kuzbassrazrezugol, Russia's second largest steam coal producer, exported 1.859 million tonnes of coal last month, down 80,000 tonnes or 4 percent f ...
Wednesday, 17 February 10
VEDANTA SET FOR PORTS ENTRY WITH VIZAG TENDER
Vedanta, along with Leighton Contractors India, quoted a revenue share of 38.1% to win the 30-year contract
Mining and metals conglomerate Vedant ...
Tuesday, 16 February 10
TRENDS DRY BULK MARKET ... TRENDS - BRS
The start of the Chinese New Year had an immediate impact on rates and for once all the dry bulk segments lost similar ground.
The BDI fell 5%, a ...
Tuesday, 16 February 10
LAW POSES THREAT TO INDONESIA'S COAL INDUSTRY
A zoning law could cost coal miners billions of dollars this year alone, hurt investment in the industry and disrupt the supply of the fuel to the c ...
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- Sree Jayajothi Cements Limited - India
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- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
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- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
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- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- ICICI Bank Limited - India
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- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Parliament of New Zealand
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- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
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- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Wilmar Investment Holdings
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