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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, 29 December 09
PROFIT IN COAL INDUSTRY DOWN 9.4% Y-O-Y IN JAN.- NOV.
In November, China's coal production was 289mln tons, up 26.3% year on year, an increase of 5.2% over last month. China's average daily trucks loa ...
Tuesday, 29 December 09
DHARMA HENWA EYES 20% REVENUE GROWTH
Local integrated mining services provider PT Dharma Henwa, which was earlier this year acquired by coal mining giant PT Bumi Resources, expects reve ...
Monday, 28 December 09
NEED TO IMPORT COAL COMES EARLY
Viet Nam may need to start importing coal as early as 2012, three years earlier than expected, to meet its electricity demands.
The Viet Nam Coal ...
Monday, 28 December 09
GOVT EYES $3.57B MINING, GEOTHERMAL INVESTMENT
The country can expect up to US$3.57 billion in investment in mining and geothermal energy next year, which would represent an increase by more than ...
Monday, 28 December 09
INDONESIAN MINER LINKED TO FUGITIVE FINANCIER
The Energy Ministry is unlikely to approve the transfer of ownership of coal miner PT Riau Baraharum on allegations it is indirectly owned by fugiti ...
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- Posco Energy - South Korea
- Agrawal Coal Company - India
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- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
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- Coal and Oil Company - UAE
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- Heidelberg Cement - Germany
- Petron Corporation, Philippines
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- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
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- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
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- Directorate General of MIneral and Coal - Indonesia
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- Bukit Baiduri Energy - Indonesia
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- Indian Oil Corporation Limited
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- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
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- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- White Energy Company Limited
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Australian Coal Association
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
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- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
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- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
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- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
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