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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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Monday, 04 January 10
TOKYO ELECTRIC SEALS XSTRATA COAL DEAL
Tokyo Electric Power Co has agreed to pay about $US85 a tonne for Australian thermal coal in 2010 from miner Xstrata, a source familiar with the pri ...
Monday, 04 January 10
IND-BARATH TO SHIFT PROJECT FROM AP TO TN
Hyderabad-based power producer Ind–Barath is planning to set up a power plant at Tuticorin, Tamil Nadu. The proposed project would attract inv ...
Sunday, 03 January 10
NEWCASTLE THERMAL COAL PRICES FALL IN FIRST DECLINE IN 3 WEEKS
Power-station coal prices at Australia’s Newcastle port, a benchmark for Asia, declined 1.5 percent, falling for the first time in three weeks ...
Sunday, 03 January 10
NTPC SEEKS REPORT ON TRANSPORTING COAL THROUGH WATERWAYS
State-run National Thermal Power Corporation (NTPC), the country’s largest power utility, has asked for a “holistic” feasibility r ...
Sunday, 03 January 10
BHP TO STAY IN MARUWAI AND TO KEEP 75 PERCENT OF THE STAKE
Despite recent statements that it would pull out completely from Indonesia, the world's largest mining company BHP Billiton has now admitted that i ...
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- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- The University of Queensland
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Planning Commission, India
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- PTC India Limited - India
- White Energy Company Limited
- Chamber of Mines of South Africa
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
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