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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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Friday, 02 July 10
PROPOSED MINERAL RESOURCE RENT TAX - PRESS RELEASE (2)
Press Release: BHP Billiton, Rio Tinto and Xstrata said today that they are encouraged by the Federal Government’s announcement that it propos ...
Friday, 02 July 10
MINERALS RESOURCE TAXATION IN AUSTRALIA - PRESS RELEASE
Press Release : Rio Tinto acknowledges the Australian Government’s announcement that the Resource Super Profits Tax (RSPT) proposal will be re ...
Thursday, 01 July 10
TATA POWER TO RAISE US$300 MILLION THROUGH ITS COAL SPVS TO FUND ADDITIONAL ACQUISITIONS AND / OR REDUCE OUTSTANDING DEBT
Stock Markets Review reported that, Tata Power, India’s largest private power player has signed an agreement to raise US$300 million in Bhira ...
Thursday, 01 July 10
HELLENIC SHIPPING NEWS POLL: THE BDI WILL STAY ABOVE 3,000 POINTS IN THE SECOND HALF OF 2010
When Hellenic Shipping News Worldwide prepared June’s poll asking readers about where do they think that the Baltic Dry Index (BDI) will range ...
Thursday, 01 July 10
PANAMAX MARKETS CONTINUE TO DROP IN ALL BASINS - FEARNLEYS
Handy
Atlantic rates continue to slide with little activity. Supras open in USG get low 30´s to Med and mid 40´s to FEast. Hmax/Supra ...
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- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
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- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
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- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- PTC India Limited - India
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Australian Coal Association
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
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