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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-$35 a tonne, which is lower than the market price.
Source: blonnet
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Monday, 07 December 09
CHINA COKING COAL PRICE MAY RISE 14% ON DEFICIT, CITIGROUP SAYS
Coking coal prices in China, the world’s biggest steel producer, may rise 14 percent next year because of a supply deficit, Citigroup Inc. sai ...
Monday, 07 December 09
JSW STEEL TO SELL MOZAMBIQUE COAL MINE FOR RS 300 CRORE
JSW Steel may sell its coal mine in Mozambique to sister company JSW Energy as the mine has become commercially unviable for the steel producer, a t ...
Monday, 07 December 09
BLACK RIDGE MINING ENTERS AGREEMENT WITH INDONESIAN COAL PRODUCER
Australian-listed Black Ridge Mining has entered into an exclusive dealing and non-circumvention agreement with Indonesian coal producer PT. Inmas A ...
Sunday, 06 December 09
THE ECI / CHINA (S7) ROUTE SOFTENED AND WAS AT US$ 25,275 PER DAY - VISTAAR
COALspot.com (Singapore): "The market was bit soft in the beginning of the week, however towards mid week that market started to pick up and th ...
Sunday, 06 December 09
NEW MANGALORE PORT GETS UPCL'S FIRST COAL PARCEL FROM INDONESIA
The Lanco Group-promoted Udupi Power Corporation Ltd (UPCL) has received the first parcel of imported coal from Indonesia at the New Mangalore Port. ...
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- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
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- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
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- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
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- Straits Asia Resources Limited - Singapore
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- Petron Corporation, Philippines
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
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- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Kalimantan Lumbung Energi - Indonesia
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- Dalmia Cement Bharat India
- The University of Queensland
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- San Jose City I Power Corp, Philippines
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