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Wednesday, 28 October 09
MIDDLE EAST COAL EYEING INDIAN POWER PLANTS IN EXCHANGE FOR LONG TERM COAL SUPPLY
 Reuters reported that UAE's Middle East Coal is in talks to buy equity stakes in India's power plants in exchange for long term coal supply.
MEC is JV between UAE investment fund RAK Minerals & Metals Investments and UAE based mining company Trimex. RMMI won a license in March to build a 150 kilometers long rail link carrying coal from a mine in Indonesia's East Kalimantan province to a coal terminal.
Mr Madu Koneru VC of Middle East Coal said that "We are close to signing a contact with a number of Indian power plants who need to be supplied with coal over the coming 15 years, the deals will be finalized by the end of next month. India has one of the fastest growing economies and also has a shortage of power supply so that's why we have decided to go ahead with these deals."
The deals would help MEC find the USD 500 million in financing it needs for the project. MEC would start approaching institutions for funding once the deals were in place.
He said that RMMI plans to provide USD 100 million of the initial USD 600 million investment. Around USD 500 million will come from institutions such as the World Bank. The rest of the investment would come from additional partners that the company is now seeking.
Middle East Coal plans to start shipments of 3 to 5 million tonnes of thermal coal via road. Once the rail project is complete, shipments would rise to 17 million tonnes. MEC had raised its projections for how much coal it could ship as it had progressed with planning for the project. Earlier this year, the company said that it would ship 15 million tonnes of coal.
Sourced from Steel Guru
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Monday, 15 February 10
MEC INFRA TO COMMISSION INDONESIA RAIL PROJECT
A joint venture between Ras Al Khaimah Investment Authority (Rakia) RAK Investment Authority and Minerals Energy and Commodities Holdings, a f ...
Monday, 15 February 10
INDONESIA IN TALKS TO RESOLVE BANPU MINE CLOSURE
Indonesia is seeking to resolve a land permiting problem resulting in the closure of a coal mine in Kalimantan operated by a unit of Thailand's top ...
Monday, 15 February 10
PVT ENTRY IN COAL MINING TO BE DELAYED
Entry of private players in coal mining will be delayed. Contrary to expectations, the coal ministry will not move in the Budget session a bill that ...
Sunday, 14 February 10
NEWCASTLE STEAM COAL TRADES AT US$ 91 TO US$ 92
Reuters reported that prompt cargo prices for coal delivered into Europe were largely unchanged recently after a day of subdued trading.
European ...
Saturday, 13 February 10
THE FREIGHT MARKET CONTINUED TO BE WEAK THIS WEEK - CAPT. REDDY
COALspot.com (Singapore): The freight market continued to be weak this week. There have been quite a few spot vessels open Far east and have been fo ...
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- Deloitte Consulting - India
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- Kaltim Prima Coal - Indonesia
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- South Luzon Thermal Energy Corporation
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- Australian Coal Association
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- Maheswari Brothers Coal Limited - India
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- Toyota Tsusho Corporation, Japan
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- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
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- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
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- Sarangani Energy Corporation, Philippines
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- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
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- New Zealand Coal & Carbon
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- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
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- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
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- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
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- Metalloyd Limited - United Kingdom
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- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Planning Commission, India
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- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
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- Jaiprakash Power Ventures ltd
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- Commonwealth Bank - Australia
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- Pendopo Energi Batubara - Indonesia
- The University of Queensland
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- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
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- Semirara Mining Corp, Philippines
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- Samtan Co., Ltd - South Korea
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- Energy Link Ltd, New Zealand
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- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Parliament of New Zealand
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- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
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- Power Finance Corporation Ltd., India
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
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- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
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