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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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Thursday, 24 December 09
EUROSEAS LTD. ANNOUNCES TWO-YEAR TIME CHARTER AGREEMENT FOR PANAMAX BULK CARRIER
Euroseas Ltd., an owner and operator of drybulk carriers and container vessels and provider of seaborne transportation for dry bulk and containerize ...
Wednesday, 23 December 09
INDONESIA POWER CHIEF TO BUILD PLANTS OUTSIDE JAVA
Indonesia's state electricity firm plans to build new power plants outside Java island with a combined capacity of around 2,000 megawatts to resolv ...
Wednesday, 23 December 09
BUKIT ASAM SEES CHINA COAL DEMAND BOOST
* Rebound in prices to have pushed up 2009 revs
* To more than double Tarahan port capacity
Reuters reported that, Indonesian state-owned coal m ...
Wednesday, 23 December 09
MACARTHUR COAL OFFERS TO BUY RIVAL GLOUCESTER
Queensland-based Macarthur Coal will offer to buy fellow Australian Gloucester Coal, in a move to add two new mines and increase coal resources.
...
Tuesday, 22 December 09
CHINA CONTRACTED COAL PRICE FOR 2010 SEES SLIGHT INCREASE
A number of coal and power enterprises have concluded their annual power-coal supply contracts for 2010, and the contracted coal price saw slight in ...
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- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- White Energy Company Limited
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
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