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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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Saturday, 31 October 09
FLSMIDTH WINS MAJOR INDIAN COAL HANDLING PROJECT
Top global supplier of minerals processing and materials handling equipment, FL smidth, has won another important coal handling contract in India
...
Saturday, 31 October 09
INDIA OPENING POWER SECTOR TO PRIVATE INVESTMENT, COAL STILL THE FUEL OF CHOICE
Energy Tribune reported that, With coal-fired power plants as the primary source, India’s electricity generation sector space has been dominat ...
Friday, 30 October 09
MINERS TOLD TO SPEND ON LOCAL SERVICE FIRMS
The energy and mineral resources ministry has issued a ministerial regulation ordering mining firms to prioritize hiring domestic service companies ...
Friday, 30 October 09
TATA POWER MAY BUY COAL FROM RIVERSDALE'S MOZAMBIQUE MINES
Bloomberg reported that, Tata Power Ltd., India’s biggest electricity generator outside state control, may buy coal from a mine in Mozambique ...
Thursday, 29 October 09
MMTC AWARDED 12.5 MILLION TONS TO THREE INDIAN TRADERS
COALspot.com (India): State-run trading firm MMTC awarded tenders for the import of 12.5 million tonnes of coal for NTPC to three Indian coal trader ...
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- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
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- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
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- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
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- Goldman Sachs - Singapore
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- Economic Council, Georgia
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- Parliament of New Zealand
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- CIMB Investment Bank - Malaysia
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- Orica Mining Services - Indonesia
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- Billiton Holdings Pty Ltd - Australia
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- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
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- Bukit Asam (Persero) Tbk - Indonesia
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Formosa Plastics Group - Taiwan
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- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
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- McConnell Dowell - Australia
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
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- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
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- IEA Clean Coal Centre - UK
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- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
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- Mintek Dendrill Indonesia
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- Alfred C Toepfer International GmbH - Germany
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- Commonwealth Bank - Australia
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- Planning Commission, India
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- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
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- Georgia Ports Authority, United States
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- PowerSource Philippines DevCo
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