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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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Sunday, 01 November 09
THE COAL MOVEMENT TO INDIA FROM SOUTH AFRICA AND INDONESIA WOULD BE CONTINUE INCREASE - VISTAAR SINGAPORE
COALspot.com (Singapore): The BDI continued to be firm with an increase of 60 points and closed at 3,103 points.
The cape index also was firm an ...
Sunday, 01 November 09
INDONESIA ADARO Q3 NET PROFIT JUMPS ON COAL DEMAND
* Q3 net profit up 131.6 percent to 1.27 trillion rupiah
* Q3 revenue up 56.8 percent to 7.12 trillion rupiah
Reuters reported that, Indonesia' ...
Sunday, 01 November 09
PT INDIKA MAY BUY STAKES IN BHPB INDONESIA OPERATIONS
Dow Jones reported that Indonesian coal producer PT Indika Energy may buy stakes in BHP Billiton Limited's Indonesian coal operations and in local ...
Sunday, 01 November 09
ADAVALE RESOURCES MAKES COAL ACQUISITIONS IN INDONESIA
Adavale Resources Limited has entered into an agreement to acquire the rights to two thermal coal projects Tapan and Jambi in Sumatra Indonesia, hel ...
Saturday, 31 October 09
PRODUCERS BENEFIT FROM COAL'S TIGHT SUPPLY AND STRONG DEMAND
The Jakarta Post reported that, The outlook for Indonesian coal producers appears promising with strong volume growth coming from both the domestic ...
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- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
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- McConnell Dowell - Australia
- Thai Mozambique Logistica
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- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
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- Planning Commission, India
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- Energy Development Corp, Philippines
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- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
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- Economic Council, Georgia
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- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
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- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
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- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
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- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
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- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Sojitz Corporation - Japan
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- Kaltim Prima Coal - Indonesia
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- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
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- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
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- Ministry of Finance - Indonesia
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- Indian Oil Corporation Limited
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- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
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- SMC Global Power, Philippines
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- Meralco Power Generation, Philippines
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- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
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- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Petron Corporation, Philippines
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- The University of Queensland
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- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
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- San Jose City I Power Corp, Philippines
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- Australian Coal Association
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