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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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Thursday, 16 July 09
JAPAN'S J - POWER STARTS OPS AT NEW 600 MW COAL UNIT
Reuters, a worlds leading news agency reported that, Electric Power Development Co (J-Power) said on Thursday it started commercial operations at it ...
Thursday, 16 July 09
DELIVERY OF COAL MINE EXPLORATION THROUGH NEWCASTLE PORT ROSE 11 PERCENT
July 16th, 2009 Newcastle is a port in Australia that provides services in the delivery of coal from Australia to other countries. Newcastle port ha ...
Thursday, 16 July 09
CIL KEEN ON JOINT VENTURES
* Targets to raise production by 10 m tonnes by 2012
* Plans to tap reserves of abandoned mines
The Hindu, an Indian news paper reported that, t ...
Wednesday, 15 July 09
COAL INDIA INVITES EOI FOR COAL MINING IN FOREIGN COUNTRIES
Economict Tmes reported that, Coal India, a leading PSU with a status of Navratna, today, invited Expression of Interest for selection of strategic ...
Wednesday, 15 July 09
BANGLADESH TO IMPORT COAL FROM INDIA FOR 1 MORE YR
Bangladesh has decided to import coal from neighbour India for another year to save foreign exchange and time, a commerce ministry official said on ...
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- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
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- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
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- Edison Trading Spa - Italy
- Planning Commission, India
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
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- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
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- Coal and Oil Company - UAE
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- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
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- IHS Mccloskey Coal Group - USA
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- Ceylon Electricity Board - Sri Lanka
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- ICICI Bank Limited - India
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- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
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- TNB Fuel Sdn Bhd - Malaysia
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- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Australian Coal Association
- ASAPP Information Group - India
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- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
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- Jindal Steel & Power Ltd - India
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- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
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- Parliament of New Zealand
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
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- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
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- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
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- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
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- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
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- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
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- Romanian Commodities Exchange
- Trasteel International SA, Italy
- White Energy Company Limited
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- Globalindo Alam Lestari - Indonesia
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- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
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- Economic Council, Georgia
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- Australian Commodity Traders Exchange
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- Alfred C Toepfer International GmbH - Germany
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- Krishnapatnam Port Company Ltd. - India
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