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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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Saturday, 02 January 10
INDONESIAS COAL OUTPUT RISES BY 5%
Indonesia, Asia’s largest coal exporter, produced 254 million tons of coal in 2009, a 5.8 percent increase from 2008 and well ahead of the gov ...
Saturday, 02 January 10
TAIPOWER FORECASTS COAL DEMAND TO SNAP DECLINE
Taiwan Power Co., Asia's biggest importer of thermal coal, expects its demand for the fuel to rise in 2010 after falling for two years as the islan ...
Friday, 01 January 10
COAL INDIA TO START IMPORTING DIRECTLY
According to sources, the coal major has already finalised tender document to import four million tonnes thermal grade coal for supplies to NTPC. Th ...
Thursday, 31 December 09
INDONESIA SEES 2010 MINING INVESTMENT UP 39 PCT
Reuters reported that, Indonesian mining investment is expected to hit $2.5 billion next year, up from $1.81 billion in 2009, supported by greater c ...
Thursday, 31 December 09
YANDICOOGINA BECOMES FIRST MINE IN AUSTRALIA TO PRODUCE 50 MILLION TONNES A YEAR
COALspot.com Press Release: Rio Tinto's Yandicoogina, Australia's largest-producing iron ore mine, has broken the 50 million tonne mark for annual ...
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- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
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- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Economic Council, Georgia
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- Marubeni Corporation - India
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- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
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- International Coal Ventures Pvt Ltd - India
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- GMR Energy Limited - India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Australian Coal Association
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
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