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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, 07 August 09
COAL-PRICE FORECAST RAISED AT MERRILL ON CHINA, INDIA DEMAND
Bloomberg reported that, Bank of America Corp.’s Merrill Lynch & Co. unit increased its price forecast for Asian power-station coal becaus ...
Friday, 07 August 09
CHINESE DEMAND FOR FOREIGN COAL SOARS
Mining Weekly reported that, Chinese coal imports rocketed by 126,3%, year-on-year, in the first half of this year, the country’s customs auth ...
Thursday, 06 August 09
RICHARDS BAY COAL SHIPMENTS FELL 3% ON YEAR IN JULY
Bloomberg reported that, Richards Bay Coal Terminal, Africa’s largest coal-export facility, exported 3 percent less of the fuel in July than i ...
Thursday, 06 August 09
NTPC LOOKS TO BYPASS STATE TRADING FIRMS ON COAL IMPORT
A reduced coal import bill for NTPC could lead to lower power tariffs
Live mint.com reported that, India’s largest power generation utility ...
Thursday, 06 August 09
CHINA JULY COAL IMPORTS AT 9.5 MLN T, DEMAND FIRM
* Coal imports at key ports in July 2.8 times year-ago levels
* July coal imports down nearly 40 percent from June
* China still buying overseas c ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
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- Indian Energy Exchange, India
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- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
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- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
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- Billiton Holdings Pty Ltd - Australia
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- Formosa Plastics Group - Taiwan
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- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
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- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
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- Wood Mackenzie - Singapore
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- Chamber of Mines of South Africa
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- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
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- Kapuas Tunggal Persada - Indonesia
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- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
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- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
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- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
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- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
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- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
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- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Australian Coal Association
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
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- Petron Corporation, Philippines
- Wilmar Investment Holdings
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- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
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- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
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- Baramulti Group, Indonesia
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- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
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- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
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- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
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- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
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