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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, 05 October 09
SOUTH AFRICAN COAL RISES ON INDIAN BUYING, DOMESTIC DEMAND
Bloomberg reported that, Prices for coal shipped from South Africa’s Richards Bay, site of the world’s largest export terminal for the f ...
Monday, 05 October 09
BANPU EYES INCREASE IN COAL OUTPUT
The Nation reported that, Banpu plans to boost its coal output to 23 million tonnes next year once production begins at the East Block of its Indomi ...
Monday, 05 October 09
COAL TRADING C&O TO INVEST $100 M NEXT YEAR
The Jakarta Post reported that, Coal and Oil (C&0) Group of India plans to invest up to US$100 million in Indonesia next year to acquire coal mi ...
Sunday, 04 October 09
INDONESIAN COAL EXCHANGE FOR PRICE BENCHMARKING IN OFFING
Reuters cited Mr Bob Kamandanu chairman of the Indonesian Coal Producers Association as saying that Indonesia plans to set up a coal exchange to cre ...
Sunday, 04 October 09
GRASIM TO CONSOLIDATE CEMENT BIZ
The Statesman reported that, India's largest cement producer Aditya Birla group today said it would consolidate its cement businesses by merging Gr ...
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- Ministry of Transport, Egypt
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
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- Eastern Coal Council - USA
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- Neyveli Lignite Corporation Ltd, - India
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- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
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- IHS Mccloskey Coal Group - USA
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- Global Coal Blending Company Limited - Australia
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- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
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- Coal and Oil Company - UAE
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- Australian Coal Association
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- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
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- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
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- Posco Energy - South Korea
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
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- Videocon Industries ltd - India
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- Cigading International Bulk Terminal - Indonesia
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- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
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- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Chamber of Mines of South Africa
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- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
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- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- MS Steel International - UAE
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- Karbindo Abesyapradhi - Indoneisa
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- Baramulti Group, Indonesia
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- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
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- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
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- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
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- The Treasury - Australian Government
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- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
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- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Indonesian Coal Mining Association
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- Sindya Power Generating Company Private Ltd
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- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Parliament of New Zealand
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
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- Bukit Asam (Persero) Tbk - Indonesia
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