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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, 24 August 09
10 LAKH (1 MILLION) TONNE COAL BURNT IN KPT
Times of India reported that, In an unusual phenomenon, 10 lakh tonne coal cache stored at a plot in Kandla Port Trust was reduced to ashes after it ...
Monday, 24 August 09
LANCO IN TALKS FOR INDONESIAN COAL MINE
Economic Times of India reported that, Infrastructure company Lanco Infratech is in advanced talks with Indonesian engineering, procurement and cons ...
Saturday, 22 August 09
'THE BDI IS LIKELY TO BE HOLDING AROUND 2,500 POINTS' - SHIPPING UPDATE
COALspot.com (Singapore): The dry bulk market continued to be soft and the BDI dropped by 10 percent this week and closed at 24,68 points this week. ...
Saturday, 22 August 09
INDIAN COAL BUYERS RE-EMERGE WITH FRESH TENDERS
Reuters world's largest international multimedia news agency reported that,Indian coal end-users have re-emerged after a few weeks with several fre ...
Friday, 21 August 09
HUANENG YIMIN TO HIKE COAL OUTPUT
China Daily, the largest English portal in China reported that, China's first large coal-electricity joint project, Huaneng Yimin Coal Electricity ...
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- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- The University of Queensland
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
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