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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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Thursday, 08 October 09
MINING TO ATTRACT $6B: BKPM
The Jakarta Post reported that, Indonesia’s mining sector could expect investment of up to US$6 billion in the 2010-2012 period, in part becau ...
Thursday, 08 October 09
INDIA DEMAND TO HELP DIRE COAL OUTLOOK - MACQUARIE
Reuters reported that, Macquarie Securities said on Wednesday its bearish short-term outlook on thermal coal may begin improving in a year's time o ...
Thursday, 08 October 09
ESSAR UNIT WINS INR 479 CR (US$ 103,272,401) ORISSA PROJECT
The firm will develop and operate the terminal at Paradip port; the contract will stretch up to 30 years
Live Mint reported that, Essar Shipping ...
Wednesday, 07 October 09
ESSAR, JINDAL IN TAKEOVER TUSSLE FOR AUSTRALIAN COAL MINER
Reuters reported that, Privately owned Essar Group has launched a surprise A$144.2 million ($128.1 million) bid for Australian coal minnow Rocklands ...
Wednesday, 07 October 09
ADARO SECURES $500 M LOAN
The Jakarta Post reported that, The country's second largest coal producer, PT Adaro Energy announced on Wednesday that it has secured US$500 milli ...
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- Holcim Trading Pte Ltd - Singapore
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
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- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
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- Independent Power Producers Association of India
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
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- Economic Council, Georgia
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- The Treasury - Australian Government
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- Sical Logistics Limited - India
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- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
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- Planning Commission, India
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- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
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- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
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- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
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- Parry Sugars Refinery, India
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- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
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- India Bulls Power Limited - India
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- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
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- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
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- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Carbofer General Trading SA - India
- White Energy Company Limited
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- The University of Queensland
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
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- Electricity Authority, New Zealand
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