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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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Tuesday, 11 August 09
ZAMBIAN COAL BUYERS CONTINUE IMPORTING COAL FROM ZIMBABWE
Lusaka Times reported that, Coal mining companies have bemoaned the lack of market for their produce as prospective buyers continue importing the co ...
Monday, 10 August 09
NOMINAL HIKE IN COAL PRICES SOON - MEDIA
The hindu business reported that, a marginal hike in coal prices is in the offing. "I will be soon approaching the Prime Minister on the matter ...
Monday, 10 August 09
MANGALAM CEMENT PLACES ORDER FOR CAPTIVE POWER PLANT
Steel Guru reported that, Mangalam Cement Ltd has announced that the company on August 6th 2009 finalized order for Captive Thermal Power Plant of 1 ...
Monday, 10 August 09
VIET NAM COAL EXPORTS HIT 13.5 MILLION TONNES
VietNamNet Bridge reported that, Viet Nam exported more than 13.5 million tonnes of coal in the first seven months of this year, equal to the same p ...
Monday, 10 August 09
S.KOREA KOSPO ISSUES SPOT, TERM COAL TENDERS
Korea Southern Power Co Ltd (KOSPO) is seeking 1.5 million tonnes of steam coal per year for delivery from October 2009 through September 2012 via a ...
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- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
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- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Australian Coal Association
- White Energy Company Limited
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- The University of Queensland
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
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- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Central Java Power - Indonesia
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
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