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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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- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- The University of Queensland
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Planning Commission, India
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
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