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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, 18 June 09
INDIKA GETS APPROVAL ON PETROSEA ACQUISITION
PT Indika Energy, the country’s third-biggest miner, said on Wednesday that its shareholders had approved its plan to acquire an 81.95 percent ...
Thursday, 18 June 09
MORE FUNDS FOR COAL VIDESH ASSET BUY
The government plans to let Coal Videsh, a subsidiary of Coal India, have more than Rs 1,000 crore at its disposal to shop for assets abroad.
&ld ...
Wednesday, 17 June 09
MINE EXPLOSION'S DEATH TOLL HITS 30 - (UPDATE 1 )
Search and rescue workers have discovered the bodies of 30 miners who were killed in a coal mine explosion in the West Sumatra regency of Sawahlunto ...
Wednesday, 17 June 09
S.KOREA UTILITIES INK '09 COAL CONTRACTS WITH CHINA
* S.Korea to buy 3 mln tonnes of coal from China at $78.50/T
* Talks between individual power firms and miners ongoing
South Korean utilities ...
Wednesday, 17 June 09
MINE BLAST KILLS NINE, BURIES DOZENS
A major mine explosion near Sawahlunto city, West Sumatra, Tuesday, killed at least nine people while more than 30 were buried and are feared ...
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- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- London Commodity Brokers - England
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