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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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Saturday, 11 July 09
THE IMPORT OF STEAM COAL FROM INDONESIA & S/A TO INDIA WILL CONTINUE TO INCREASE - VISTAAR
COALspot.com ( Singapore): Vistaar Shipping, an experienced ship operator in Singapore said, The market continued to be soft this with doubts a ...
Friday, 10 July 09
DMO AND ICPR AIMED AT SECURING DOMESTIC COAL SUPPLY
COALspot.com (Indonesia): According to website of DGCMG, the implementation of coal Domestic Market Obligation (DMO) and the Indonesian Coal P ...
Friday, 10 July 09
INDONESIAN MINING LAW IN TRANSITION
Further to the enactment of Law No. 4 of 2009 on Mineral and Coal Mining (“Law 4/2009”), the enactment of various implementing regulatio ...
Thursday, 09 July 09
COAL EXPORTS TO CHINA MAY FALL AS PRICES, SHIPPING RATES RISE
CHINA'S appetite for Australian coal may fall in July and August from earlier highs, due to a recent recovery in regional prices and higher interna ...
Thursday, 09 July 09
GARDA LISTS SHARES IN LOCAL BOURSE
Local coal company PT Garda Tujuh Buana officially listed its shares in the Indonesia Stock Exchange (IDX).
The listing followed the company's p ...
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- Singapore Mercantile Exchange
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
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- Kaltim Prima Coal - Indonesia
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- European Bulk Services B.V. - Netherlands
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- Holcim Trading Pte Ltd - Singapore
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- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Economic Council, Georgia
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- PowerSource Philippines DevCo
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- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- The University of Queensland
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- Merrill Lynch Commodities Europe
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- Rio Tinto Coal - Australia
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- Power Finance Corporation Ltd., India
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- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
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- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Electricity Authority, New Zealand
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- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
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- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
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- Planning Commission, India
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- Indonesian Coal Mining Association
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- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Wilmar Investment Holdings
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- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Videocon Industries ltd - India
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- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
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- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
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- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
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- Thiess Contractors Indonesia
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- Electricity Generating Authority of Thailand
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- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
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- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
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- Formosa Plastics Group - Taiwan
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- The Treasury - Australian Government
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