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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, 25 April 09
KPC DEVELOPS EAST KALIMANTAN WITH GOVT - THE JAKARTA POST
Kaltim Prima Coal (KPC) focuses on several areas in its CSR projects to help the government increase the welfare of the community living around the ...
Friday, 24 April 09
NAPOCOR TO TENDER FOR 195,000 T COAL - ABS-CBNNEWS.COM
Top Philippine electricity producer National Power Corp. (Napocor) said on Friday it will hold a tender on May 20 to buy 195,000 tons of steam coal ...
Friday, 24 April 09
NTPC TO DELVE INTO CONTRACT MINING - ECONOMICTIMES
NTPC, India’s largest power producer, plans to cash in on its decades-old experience in handling coal mines by spinning off a separate u ...
Wednesday, 22 April 09
PROTECTED FORESTS FACING UNDERGROUND MINING THREAT - THE JAKARTA POST
The government is soon to issue a presidential regulation allowing mining companies to mine underground in protected forest areas, despite a recent ...
Tuesday, 21 April 09
MITRA RAJASA TO ACQUIRE TWO MINING COMPANIES - THE JAKARTA POST
PT Mitra Rajasa Tbk plans to acquire PT Realita Jaya Mandiri and PT Masindo Artha Resources in South Sumatra, which are worth around US$40 million.
...
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- Kepco SPC Power Corporation, Philippines
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- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
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- Economic Council, Georgia
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- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
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- Commonwealth Bank - Australia
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- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
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- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
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- The State Trading Corporation of India Ltd
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- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
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- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
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- Holcim Trading Pte Ltd - Singapore
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- Thai Mozambique Logistica
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
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- Parliament of New Zealand
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- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
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- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
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- Australian Coal Association
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- Baramulti Group, Indonesia
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- Deloitte Consulting - India
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
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- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Planning Commission, India
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
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- White Energy Company Limited
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- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
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- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- The University of Queensland
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
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- Sical Logistics Limited - India
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