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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-$35 a tonne, which is lower than the market price.
Source: blonnet
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Friday, 28 August 09
JSW MAY BUY AFRICAN MINE FOR US$ 350
The Economic Times Reported that, The Sajjan Jindal-owned JSW Group is in advanced talks to acquire a coal mine in Swaziland, Africa, at an estimate ...
Friday, 28 August 09
COAL INDIA ALLOWED TO IMPORT COKING COAL
The government Thursday allowed the state-owned Coal India to import coking coal and high grade ash thermal coal by acquiring coal properties abroad ...
Thursday, 27 August 09
CIL TO SPEND US$ 1 - 1.5 BN TO ACQUIRE ASSETS IN 4 COUNTRIES
Business Standard reported that, "Coal India is looking to spend $1-1.5 billion in acquiring mining assets in Australia, Indonesia, South Afric ...
Wednesday, 26 August 09
INDIA'S JSW TO DOUBLE JAIGARH PORT CAPACITY TO 20 MT
Sea Trade Asia reported that, JSW Jaigarh Port, a wholly owned subsidiary of JSW Infrastructure & Logistics, plans to double cargo handling capa ...
Wednesday, 26 August 09
JSW ENERGY NEARS COAL-SUPPLY LINKAGE DEAL IN INDONESIA
Sajjan Jindal-owned JSW Energy is close to finalising a coal-supply linkage pact in Indonesia and is also exploring options of acquiring ...
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- The Treasury - Australian Government
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- Petron Corporation, Philippines
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- Ministry of Mines - Canada
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- Global Coal Blending Company Limited - Australia
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- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
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- Intertek Mineral Services - Indonesia
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- OPG Power Generation Pvt Ltd - India
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- The State Trading Corporation of India Ltd
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- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
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- Directorate General of MIneral and Coal - Indonesia
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- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- MS Steel International - UAE
- Electricity Authority, New Zealand
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- Thai Mozambique Logistica
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- Sindya Power Generating Company Private Ltd
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- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
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- Indian Oil Corporation Limited
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- Neyveli Lignite Corporation Ltd, - India
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- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
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- Eastern Coal Council - USA
- GMR Energy Limited - India
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- Economic Council, Georgia
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- Australian Coal Association
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- PowerSource Philippines DevCo
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- Bulk Trading Sa - Switzerland
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- PetroVietnam Power Coal Import and Supply Company
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- Parliament of New Zealand
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- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
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