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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, 27 January 10
PEABODY ENERGY EYES 'RED HOT' ASIAN COAL DEMAND
US miner Peabody Energy has seen already-strong Asian markets become “red hot”, as demand for metallurgical and thermal coal strains sup ...
Wednesday, 27 January 10
KOLKOTTA BASED POWER UTILITY CESC LOOKING FOR 100,000 MT OF COAL FOR MAY & JUNE DELIVERY
COALspot.com (India): Kolkotta based power utility CESC, the flagship company of the diversified RPG group of India, has issued a closed tender to b ...
Tuesday, 26 January 10
FREIGHT COST ERODES INDIA CEMENTS NET
"Freight cost increased from an average of around 14% of sales in the previous quarters to around 20% in the third quarter"
The Decembe ...
Tuesday, 26 January 10
VITOL BUYS EXPORT SPACE AT COLOMBIA SANTA MARTA PORT
Global energy trader Vitol has signed a four-year deal to take export capacity at Colombia's 3 million tonnes a year Carbonsan port in Santa Marta, ...
Tuesday, 26 January 10
AUSTRALIAN FIRM TO MINE COAL IN WEST BENGAL
India Resources Ltd (IRL), a mining firm listed on the Australian Stock Exchange, has decided to enter into contract mining of coal in
India ...
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- Kartika Selabumi Mining - Indonesia
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- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
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- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Vijayanagar Sugar Pvt Ltd - India
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- Rio Tinto Coal - Australia
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- Economic Council, Georgia
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- Electricity Generating Authority of Thailand
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- Billiton Holdings Pty Ltd - Australia
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- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
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- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Planning Commission, India
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- The University of Queensland
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- Anglo American - United Kingdom
- White Energy Company Limited
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- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- GMR Energy Limited - India
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
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- Petron Corporation, Philippines
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- Sree Jayajothi Cements Limited - India
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- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
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- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
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- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
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- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Eastern Energy - Thailand
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- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
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- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
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- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
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- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
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- Antam Resourcindo - Indonesia
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- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
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- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Sical Logistics Limited - India
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- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
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