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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, 08 December 09
HIGH GLOBAL COAL PRICES HIT POWER PROJECTS
Spot prices for the fuel have appreciated almost 10% in November.
After a sedate year, rising coal prices could hit the coffers of import-based d ...
Monday, 07 December 09
HOW INDIA CAN CUT ITS ENERGY NEEDS BY 20%!
Using energy more efficiently can reduce our energy needs by one fifth; it is a strategy we must pursue even as we promote renewables, says Kirit Pa ...
Monday, 07 December 09
ASIA COAL POWER IN INDONESIA DISCUSSES NEW MINING LAW, COAL AND POWER SECTORS AS INVESTMENTS POUR INTO COALMINES TO SECURE SUPPLIES
COALspot.com (Singaproe): Press Release - Asia Coal Power pinpoints growing power demand in Asia & Power sector investments in Indonesia's coal ...
Monday, 07 December 09
DRY BULK RATES' VOLATILITY TO STAY, BUT RECOVERY IS UNDERWAY SAYS ION VAROUXAKIS HEAD OF FREESEAS
In an interview with Hellenic Shipping News, Mr. Ion G. Varouxakis, Chairman of the Board, President and CEO of Nasdaq-listed Freeseas, explains why ...
Monday, 07 December 09
VEDANTA RESOURCES ISSUES TENDER TO IMPORT 2.25 MILLION COAL
COALspot.com (India): Vedanta Resources plc is a London stock exchange listed FTSE 100 diversified metals and mining major with revenues in excess o ...
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- ASAPP Information Group - India
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- Bhushan Steel Limited - India
- Eastern Coal Council - USA
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- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
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- Semirara Mining Corp, Philippines
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- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
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- Sojitz Corporation - Japan
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- Parliament of New Zealand
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- Medco Energi Mining Internasional
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- GMR Energy Limited - India
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- TNB Fuel Sdn Bhd - Malaysia
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- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
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- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
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- Ministry of Finance - Indonesia
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- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
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- OPG Power Generation Pvt Ltd - India
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- Intertek Mineral Services - Indonesia
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- Orica Mining Services - Indonesia
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- White Energy Company Limited
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- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
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- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
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- Australian Coal Association
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- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
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- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
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- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
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- Latin American Coal - Colombia
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- Kumho Petrochemical, South Korea
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- Petron Corporation, Philippines
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- New Zealand Coal & Carbon
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- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
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- Bahari Cakrawala Sebuku - Indonesia
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- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
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- Australian Commodity Traders Exchange
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- Wood Mackenzie - Singapore
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- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
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- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
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- Singapore Mercantile Exchange
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