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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, 28 December 09
SOMALI PIRATES SAY $4 MILLION RANSOM PAID FOR COAL SHIP
A helicopter dropped a $4 million ransom payment on Sunday on to the deck of a Chinese coal ship hijacked by Somali pirates in mid-October, a pirate ...
Saturday, 26 December 09
COAL INDIA, RIO TINTO MAY HOLD TALKS SOON ON TIE-UP
State owned Coal India Limited (CIL), which is in the race for acquisition of overseas coal properties to plug the demand supply shortfall of the dr ...
Saturday, 26 December 09
COKING COAL PRICES MAY RISE BY 10 - 15% FROM APRIL 2010
The price of coking coal, one of the key raw materials for steel production, is likely to increase by 10-15% in next April, the month in which m ...
Saturday, 26 December 09
COAL INDIA SECURES TWO BLOCKS IN MOZAMBIQUE
It's official now. Mozambique has awarded two coal acreages in its Maotize region with an estimated one billion tonne reserves to Coal India Ltd bu ...
Thursday, 24 December 09
DRY BULK CHARTERING - SHIPPING UPDATE
Handy
Continued firm conditions for the Handymax / Supramax market in the Atlantic despite the BSI´s downward trend. As chrs scramble to cov ...
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- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
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- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
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- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
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- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
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- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Mjunction Services Limited - India
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- The University of Queensland
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Minerals Council of Australia
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
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