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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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Friday, 04 December 09
CHINA'S COAL IMPORTS PREDICTED TO DECLINE IN 2010
China's eye-catching coal import figure s are unlikely to extend into 2010 given the predicted narrow-down of the coal price spread between the hom ...
Friday, 04 December 09
SUBHASH PROJECTS BEGINS MINING AT INDONESIAN COAL BLOCK
Kolkata-based infrastructure company Subhash Projects and Marketing (SPML) has begun mining at its coal block in Indonesia and will begin despatchin ...
Friday, 04 December 09
DRY BULK MARKET IS ON THE RISE AGAIN
Proving rather resilient, compared to previous behaviors, the dry bulk market has been on a rebound mode once again, after a two-week fall, which su ...
Friday, 04 December 09
INDONESIA'S BUMI EYES MARKETING DEAL FOR BERAU COAL
Reuters reported that, Indonesian coal miner PT Bumi Resources Tbk said on Thursday it is in talks to be the exclusive marketing agent for coal prod ...
Friday, 04 December 09
KALIMANTAN GOLD AGREES TO SELL IBP COAL CONCESSION
COALspot.com ( Press Release): Kalimantan Gold Corporation Limited ("KLG" or the "Company"), which undertook drilling and had an ...
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- Australian Coal Association
- Oldendorff Carriers - Singapore
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- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
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- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- PTC India Limited - India
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Economic Council, Georgia
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
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