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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, 30 June 09
ARCELORMITTAL, RIO, 8 OTHERS VIE FOR COAL INDIA MINES
Coal India Ltd. short-listed ArcelorMittal, Rio Tinto Group and eight other companies to develop its abandoned mines to help ease a shortage of coal ...
Monday, 29 June 09
INDONESIA PLANS 20 PCT FOREIGN MINING SALE LAW
Indonesia plans to require foreign investors in mining firms to gradually divest shares starting from the fifth year of commercial production, but m ...
Monday, 29 June 09
CHINA ENJOYS STABLE COAL ECONOMY IN THE FIRST FIVE MONTHS OF 2009
In the first five months of the year, China's raw coal production had continued to rise, and coal market stayed in a balance in terms of supply-dem ...
Monday, 29 June 09
GOVERNMENT FINE TUNES MINING LAW
The government is planning to require all foreign-owned mining companies to divest 20 percent of their businesses to local entities after five years ...
Sunday, 28 June 09
INDIA CEMENTS TO INVEST RS 1,500 CR OVER 2 YEARS
Chennai-based India Cements is planning to invest around Rs 1,500 crore over the next two years for setting up a greenfield project in Rajasthan, po ...
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- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- White Energy Company Limited
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
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