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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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Wednesday, 30 September 09
COKING COAL PRICES MAY TOUCH $200/TN IN 2010-11
Business Standard reported that, Driven by surge in imports of coking coal by China, growth in Japanese steel output and signs of recovery in the In ...
Wednesday, 30 September 09
PURNOMO BIDS 'GOODBYE' TO ENERGY MINISTRY
The Jakarta globe reported that, In what could be construed as a resignation speech from a government official — but perhaps wasn’t &mda ...
Tuesday, 29 September 09
MINING AND ENERGY DAY 2009
The Minister of Energy and Mineral Resources, Purnomo Yusgiantoro led the ceremony marking 2009 Mining and Energy Day celebrations, held at the Depa ...
Tuesday, 29 September 09
BUKIT ASAM REDUCES ITS SALES TARGET
Tempo Interactive reported that, PT Tambang Batubara Bukit Asam Tbk has decided to reduce its sales target this year from 14.5 million tons of coal ...
Monday, 28 September 09
INDONESIA UNLIKELY TO PASS NEW MINING RULES IN 2009
Reuters reported that, Indonesia is unlikely to complete final regulations attached to a new mining and coal law this year, an official said on Mond ...
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- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Central Electricity Authority - India
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
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