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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, 07 July 09
Q+A - INDONESIA MINING SECTOR FACES ELECTION RISKS - REUTERS
Indonesia has struggled to lure foreign investment to its mining sector in recent years, and the nationalist line on resource exploitation taken by ...
Tuesday, 07 July 09
INDIKA ENERGY COMPLETES THE ACQUISITION OF PETROSEA
TAMBANG reported that, PT Indika Energy, Tbk has officially announced that it has completed the acquisition of PT Petrosea, Tbk. from Clough Interna ...
Tuesday, 07 July 09
RUSSIAN AUDITORS ATTACK COAL EXPORTERS OVER PRICING
Russia's budget is losing substantial revenues because the country's exporters ship coal overseas at artificially low prices through various offsh ...
Tuesday, 07 July 09
RBCT COAL EXPORTS TO REMAIN BELOW CAPACITY IN 2009
Coal volumes railed to South Africa’s Richards Bay Coal Terminal are continuing to fall far short of the corridor’s nameplate yearly cap ...
Tuesday, 07 July 09
TATA POWER AID THE INDONESIAN COAL MINES
BL reported that Mr Prasad Menon MD of TATA Power aid the Indonesian coal mines PT Kaltim Prima Coal and PT Arutmin Indonesia in which TATA Power ha ...
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- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- The University of Queensland
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- ASAPP Information Group - India
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Economic Council, Georgia
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
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