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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, 19 January 10
COAL FOR DOMESTIC USERS
While the government is already almost a year behind schedule in issuing regulations to implement the new mining law, mineral producers have been&nb ...
Tuesday, 19 January 10
RISING DEMAND FROM POWER FIRMS TO PUSH COAL PRICES
The resurgence of the Chinese economy, along with harsh winter conditions across the country, is likely to push coal prices up in the short term. In ...
Tuesday, 19 January 10
ESSAR'S MEGA ACQUISITION PLANS
India’s Essar Group has carved a mega plan that includes a slew of acquisitions and investments in assets across various businesses. CNBC-TV18 ...
Monday, 18 January 10
INDONESIA SHIPPED 15.90 PERCENT OF TOTAL COAL EXPORTS IN 2009 TO INDIA
COALspot.com (Indonesia): Indonesia, the world largest coal exporter, exported 19.07 percent of the total coal export in 2009 to China and 15. ...
Monday, 18 January 10
BHP TO SPEND $267 MILLION ON QUEENSLAND COKING COAL
BHP Billiton Ltd, the world’s largest mining company, will spend $267 million to accelerate development of the Caval Ridge mine and the Hay Po ...
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- Bahari Cakrawala Sebuku - Indonesia
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- Bulk Trading Sa - Switzerland
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- McConnell Dowell - Australia
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- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
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- White Energy Company Limited
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- Chamber of Mines of South Africa
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- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
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- Madhucon Powers Ltd - India
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- GVK Power & Infra Limited - India
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- Siam City Cement PLC, Thailand
- MS Steel International - UAE
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- India Bulls Power Limited - India
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- Power Finance Corporation Ltd., India
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- Coalindo Energy - Indonesia
- PTC India Limited - India
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
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- ICICI Bank Limited - India
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- Eastern Energy - Thailand
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- Lanco Infratech Ltd - India
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- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- ASAPP Information Group - India
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- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Marubeni Corporation - India
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- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
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- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
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- Pipit Mutiara Jaya. PT, Indonesia
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- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
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- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
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- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Posco Energy - South Korea
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- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
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- Sical Logistics Limited - India
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- Cement Manufacturers Association - India
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- Bukit Makmur.PT - Indonesia
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