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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, 17 August 09
COAL EXPORTS CONTINUE DESPITE SHORTAGE
Vietnam News reported that, Viet Nam is exporting more coal despite a warning from experts that the country could face a shortage of this fossil fue ...
Monday, 17 August 09
S.KOREA JULY COAL IMPORTS UP TO 8.97 MLN T
* Imports of heating coal in July up 3.7 percent on year
* LNG imports in July fall for seventh straight month
Alibaba reorted that, South Kore ...
Monday, 17 August 09
COAL INDIA PLANS A PRICE HIKE OF 11%
With the state-run CIL mining 84% of the coal produced in the country, an 11% increase will push up inflation by around 0.16%, the company said
L ...
Monday, 17 August 09
BANPU SEES INDONESIAN MINE OUTPUT UP 10 PCT IN 2010
Reuters reported that, Thailand's top coal miner, Banpu, said on Monday it expected coal output from its Indonesian mines to rise 10 percent to abo ...
Monday, 17 August 09
COAL IMPORTS SURGE IN H1
China is one of the world's leading coal producers. But even so, imports of coal have surged in the first half of the year, hitting a record in Jun ...
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- Cigading International Bulk Terminal - Indonesia
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- Bhoruka Overseas - Indonesia
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- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
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- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
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- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
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- Australian Commodity Traders Exchange
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- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
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- Mercuria Energy - Indonesia
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- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
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- Commonwealth Bank - Australia
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- Global Business Power Corporation, Philippines
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- CIMB Investment Bank - Malaysia
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- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
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- The University of Queensland
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- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
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- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
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- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
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- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
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- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
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- AsiaOL BioFuels Corp., Philippines
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- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
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- Eastern Energy - Thailand
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- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
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- Ministry of Transport, Egypt
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
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- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
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- South Luzon Thermal Energy Corporation
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- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
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- The Treasury - Australian Government
- Thai Mozambique Logistica
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