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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, 23 June 10
WILHELMSEN SHIPS SERVICE OPENS NEW OFFICE IN KRISHNAPATNAM PORT INDIA
Wilhelmsen Ships Service has opened a branch office in Krishnapatnam port on the east coast of India according to statement released by company ...
Wednesday, 23 June 10
PTC'S INDONESIAN COAL-MINING FORAY-I: TO INVEST USD 69 MILLION VIA OVERSEAS SPV
Moving ahead with its plans to acquire coal assets abroad, the power trading major, PTC India Limited, has decided to invest a total of USD 69 milli ...
Tuesday, 22 June 10
INDIA HAS REPORTED MORE COAL IMPORTS FROM COLOMBIA
A second consecutive week of sharp corrections for the dry bulk market, although some of the softness could be attributed to Chinese holidays at the ...
Monday, 21 June 10
THE SUPRAMAX INDEX IN THE FAR-EAST (S6 ROUTE) WAS DOWN BY $ 1300 PER DAY - VISTAAR
COALspot.com: The market continued to soften in all sectors last week also with the BDI dropping by 18.07 pct and Cape index by 26.71 pct.
The BD ...
Sunday, 20 June 10
OUR COAL: ITS DEVELOPMENT AND CONTROVERSIAL ISSUES
Indonesia’s production of coal has been growing amazingly. In the mid 1980s, national coal production was less than 1 million tons per annum, ...
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- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
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- Bangladesh Power Developement Board
- Xindia Steels Limited - India
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- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
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- Global Coal Blending Company Limited - Australia
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- PowerSource Philippines DevCo
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- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
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- Australian Commodity Traders Exchange
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- Directorate Of Revenue Intelligence - India
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- SMC Global Power, Philippines
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- Posco Energy - South Korea
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- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
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- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
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- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
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- Global Business Power Corporation, Philippines
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- Bhatia International Limited - India
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- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
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- Indian Energy Exchange, India
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- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
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- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Planning Commission, India
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- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Bhoruka Overseas - Indonesia
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- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
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- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
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- Sakthi Sugars Limited - India
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