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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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Wednesday, 03 June 09
POWER DEMAND TO BOOST INDIA COAL IMPORTS DURING MONSOON - STEELGURU
Reuters quoted Indian coal importers said that strong demand for power in India is likely to keep coal imports at the maximum level possible in the ...
Wednesday, 03 June 09
NAPOCOR EXTENDS COAL TENDER FOR SOLE BIDDER - ABS CBNNEWS
National Power Corp. (Napocor), the top Philippine electricity producer, has given the lone bidder at a tender for 195,000 tons of coal more time to ...
Wednesday, 03 June 09
NEWCASTLE COAL EXPORTS JUMP 20 PERCENT; SHIP QUEUE LENGTHENS - BLOOMBERG
Coal exports from Australia’s Newcastle, the world’s biggest export harbor for the fuel, jumped 20 percent last week while the number of ...
Wednesday, 03 June 09
IPL-2 OVER, INDIAN COAL LEAGUE BEGINS IN SOUTH AFRICA - ECONOMICTIME
Steel, cement and power companies, which have traditionally relied on cheap Indonesian coal to fuel their factories, are rushing to buy South Africa ...
Wednesday, 03 June 09
BUILDING A ROAD TO LINK 3 GIANTS - THE JAKARTA GLOBE
Madhu Koneru is building a road to the future that will bring together the financial heft of the Middle East, the technological know-how of a rising ...
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- IHS Mccloskey Coal Group - USA
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- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
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- Planning Commission, India
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- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
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- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
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- Singapore Mercantile Exchange
- White Energy Company Limited
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- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
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- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
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- London Commodity Brokers - England
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- Karbindo Abesyapradhi - Indoneisa
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- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Australian Coal Association
- CNBM International Corporation - China
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
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- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
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- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
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- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
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- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
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- Economic Council, Georgia
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- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
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- Petron Corporation, Philippines
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- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
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- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
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- The University of Queensland
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- Minerals Council of Australia
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- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
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- Australian Commodity Traders Exchange
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- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
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- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
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- Electricity Generating Authority of Thailand
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- Parliament of New Zealand
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