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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, 13 November 09
API4 IGNORES LOW COAL TRADES - SWISS SINGAPORE
* Jan, Feb S.Africa coal prices hit 12-month highs
* Indian trader says deals done dollars below index
Reuters reported that, the physical coal ...
Thursday, 12 November 09
INDONESIA'S BUMI COAL PRODUCTION TO INCREASE
The sale is predicted to jump 14 percent to 58 million tons.
Viva News reported that, PT Bumi Resources Tbk. (BUMI) projected that the company's ...
Thursday, 12 November 09
INDIA'S BHEL IS IN INDONESIA NOW WITH THE COST EFFECTIVE CFBC BASED BOILER TURBINE PACKAGES
COALspot.com(Indonesia): BHEL, the largest engineering and manufacturing enterprise in India in the energy-related / infrastructure sector, is now f ...
Thursday, 12 November 09
NTPC FARAKKA AND KAHALGAON UNITS SHUT DOWN ON COAL SHORTAGE
Operations at two units each of power major NTPC Ltd’s 1600 MW Farakka and the 2340 MW Kahalgaon stations have ground to a halt due to an acut ...
Thursday, 12 November 09
GANGAVARAM PORT SETS RECORD BY DISCHARGING 80,514 TONNE OF COAL CARGO
Gangavaram Port, the deepest port in the country with water depth of 20 meters, has achieved an unprecedented milestone by discharging 80,514 metric ...
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- Kapuas Tunggal Persada - Indonesia
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- Ministry of Mines - Canada
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- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- India Bulls Power Limited - India
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- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
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- Salva Resources Pvt Ltd - India
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- Sojitz Corporation - Japan
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- Indogreen Group - Indonesia
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- Trasteel International SA, Italy
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- Parliament of New Zealand
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- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
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- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- The Treasury - Australian Government
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- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
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- AsiaOL BioFuels Corp., Philippines
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- Marubeni Corporation - India
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- Sarangani Energy Corporation, Philippines
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- Renaissance Capital - South Africa
- The University of Queensland
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
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- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
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- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
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- Energy Development Corp, Philippines
- Economic Council, Georgia
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- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
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- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
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- Kohat Cement Company Ltd. - Pakistan
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- Singapore Mercantile Exchange
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- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
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- Videocon Industries ltd - India
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- VISA Power Limited - India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
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- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
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