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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-$35 a tonne, which is lower than the market price.
Source: blonnet
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Monday, 12 October 09
INDONESIA TO CUT ROYALTIES TO BOOST LOW QUALITY COAL
Reuters reported that, Indonesia, the world's biggest exporter of thermal coal, plans to cut royalties paid by producers holding certain contracts ...
Monday, 12 October 09
SAMPUR COAL POWER PLANT AGREEMENT
Sunday Observer reported that, The construction work of the Sri Lanka-India joint venture coal power plant which costs US dollars 500 million will c ...
Saturday, 10 October 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - CAPT. REDDY
COALspot.com (Singapore): The BDI again firmed up this week by almost 14 pct to 2,695 points. The cape size index moved up quite sharply by 25 pct t ...
Saturday, 10 October 09
COAL PRICES TIPPED TO SURGE BY 40% AS GLOBAL DEMAND RECOVERS NEXT YEAR
Power-station coal prices may climb by more than 40 percent in 2010 from current levels as a global economic recovery boosts demand from power plant ...
Saturday, 10 October 09
PT BUMI RESOURCES TO EXPECT 2010 ELECTRIC AND COAL PRICE UP TO US$ 100/T
Indonesia coal producer, PT Bumi Resources recently stated that the revival of the global economy pushes up the demand from power plants and steel m ...
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- Bukit Baiduri Energy - Indonesia
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- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- The University of Queensland
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- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
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- The State Trading Corporation of India Ltd
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- GAC Shipping (India) Pvt Ltd
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- Chamber of Mines of South Africa
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- Eastern Coal Council - USA
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- Binh Thuan Hamico - Vietnam
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- Planning Commission, India
- VISA Power Limited - India
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- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
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- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
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- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
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- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
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- Vedanta Resources Plc - India
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- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
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- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
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- PowerSource Philippines DevCo
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- Australian Coal Association
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- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
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- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
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- Africa Commodities Group - South Africa
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- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
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- Carbofer General Trading SA - India
- ICICI Bank Limited - India
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- Port Waratah Coal Services - Australia
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