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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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Thursday, 21 January 10
HANDYMAX - SHORT PERIOD OWNERS IDEAS ARE AROUND MID/LOW 20S - FEARNLEYS AS
HANDY
The BSI moved in a downward direction since last Friday reflecting minor a ...
Thursday, 21 January 10
ASF GROUP TO COMMENCE COAL SALES TO CHINA BY FEBRUARY 2010
Sydney-based China energy and resource conduit, ASF Group has struck an agreement to supply coal to China.
In September 2009, ASF announced a ven ...
Thursday, 21 January 10
INDONESIA BUKIT ASAM AGREES ON LOWER COAL PRICE
Indonesian state coal miner PT Tambang Batubara Bukit Asam Tbk has agreed with a local power plant to set 2010 coal prices at 23 percent lower than ...
Thursday, 21 January 10
CABOTAGE POLICY POSTPONED
The Transportation Ministry has decided to postpone for one year the full enforcement of the cabotage principle – a maritime term for the proh ...
Thursday, 21 January 10
MEC IN TALKS WITH TATA POWER ON COAL - TRADE
The UAE's Middle East Coal is in talks to supply coal to Tata Power, India's biggest private sector power firm, from its new Indonesian operations ...
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- Anglo American - United Kingdom
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- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- PTC India Limited - India
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- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- The University of Queensland
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- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
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- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
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- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
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- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Parliament of New Zealand
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Planning Commission, India
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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