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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, 24 October 09
ADANI, MMTC IN RACE TO SUPPLY COAL TO GSECL
Business-Standard reported that, as many as five companies are in fray to supply 15 lakh (1.5 million) metric tonnes of non-coking steam (ther ...
Saturday, 24 October 09
INDONESIA STATE POWER FIRM PLANS TO DELAY COAL SUPPLIES
Indonesia's state-controlled electricity company is negotiating with two coal producing firms to delay plans to supply coal to a power plant in Wes ...
Friday, 23 October 09
MONGOLIA LISTS 8 POTENTIAL BIDDERS FOR COAL PROJECT
Reuters reported that, Mongolia has shortlisted eight potential partners for its huge Tavan Tolgoi coking coal project, according to Temuulen Ganzor ...
Friday, 23 October 09
2010 WILL BE 'BRIDGE YEAR' FOR COAL - CONSOL CHIEF
Mining Weekly reported that, After a difficult 2009, 2010 will likely be a “bridge” year for the US coal industry, followed by improved ...
Friday, 23 October 09
INDIAN GROUP INTERESTED IN MOZAMBICAN COAL
Mining Weekly reported that, India’s leading steelmaker, the Steel Authority of India Limited (Sail), has confirmed that it is seeking to acqu ...
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- Wilmar Investment Holdings
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- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
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- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- New Zealand Coal & Carbon
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- Videocon Industries ltd - India
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- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- The Treasury - Australian Government
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- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Australian Coal Association
- Indian Oil Corporation Limited
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- Thiess Contractors Indonesia
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- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
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- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
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- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
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- Directorate Of Revenue Intelligence - India
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- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
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