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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, 26 May 10
ADANI GROUP EYES AFRICA FOR COAL MINING PROJECTS
India Info Line reported that, After acquiring coal mines for importing Indonesian coal to run its thermal power plants in the country, the Adani Gr ...
Wednesday, 26 May 10
DRY BULK MARKET SHOOTS UP, CLOSES IN ON POST-CRISIS ERA HIGHS
In an opposite trend than that of the previous week, the Baltic Dry Index (BDI), a benchmark for tracking costs to haul commodities at sea, shot up ...
Wednesday, 26 May 10
BUMI TO CUT UP TO USD 1 BILLION DEBT IN 12 MONTHS
Press Release : PT Bumi Resources Tbk. announced yesterday that it has revived its intent to issue non preemptive shares and added this to the agend ...
Tuesday, 25 May 10
COAL PRODUCTION MAY REACH 320 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce as much as 320 million tons of coal this year, an increase of nearly 7 perc ...
Tuesday, 25 May 10
KALIMANTAN COAL RAIL PROJECT RUNS INTO COST DELAY - THE JAKARTA GLOBE
The Jakart globe reported that, A$1.5 billion coal rail and port project planned for Central Kalimantan may be delayed by a year after a review of t ...
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- White Energy Company Limited
- Wood Mackenzie - Singapore
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- Bhushan Steel Limited - India
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Parliament of New Zealand
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- MS Steel International - UAE
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
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- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
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- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
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- SN Aboitiz Power Inc, Philippines
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- Lanco Infratech Ltd - India
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- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
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- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
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- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
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- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
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- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
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- Holcim Trading Pte Ltd - Singapore
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- Indian Energy Exchange, India
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- Leighton Contractors Pty Ltd - Australia
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- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
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- Eastern Energy - Thailand
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- Siam City Cement - Thailand
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- GN Power Mariveles Coal Plant, Philippines
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- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
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- India Bulls Power Limited - India
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- ASAPP Information Group - India
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- Independent Power Producers Association of India
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- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
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