MEC appoints Enam Securities as its investment banker

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MEC APPOINTS ENAM SECURITIES AS ITS INVESTMENT
BANKER

• Madhu Koneru
• Executive Vice Chairman

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MEC APPOINTS ENAM SECURITIES AS ITS INVESTMENT
BANKER
Partnership model to give Indian IPP large scale
long- term assured supply of Coal Mumbai, 28th
September 2009 MEC (Minerals. Energy.
Commodities) a Singapore- based company with
subsidiaries in Indonesia has appointed ENAM
Securities as its Investment Bankers to advise on
partnerships and investments with Independent
Power Producers (IPP) in India. MEC invests in
and manages large-scale coal and related
infrastructure projects in Indonesia. As of first
quarter of 2008, MEC commenced development of its
Coal mines in East Kalimantan situated on a 5000
hectare site, estimated coal resources of 2
billion mt and 800 Mt in measured reserves. MEC
production and deliveries would begin with 2
million in 2010, 7 million in 2011 and 9 million
in 2012.
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MEC APPOINTS ENAM SECURITIES AS ITS INVESTMENT
BANKER
Madhu Koneru, Executive Vice Chairman, MEC said,
We see India as a key market for coal as the
country continues to address its power
requirements. MEC would like to be a part of the
Indian growth story rather than just a supplier
of coal. MEC has decided to adopt a partnership
strategy for India wherein MEC is interested in
working with Independent Power Producers (IPPs)
by providing long- term assurance supply of Coal
from its mines in Indonesia. This will create a
win win situation for power producers and us by
creating a fully integrated power project. We
believe that ENAM Securities has strong
capabilities and knowledge of the Indian Power
sector and will be a great asset for us in
finalizing a partnership strategy with some of
the top Independent Power Producers of India.,
added Madhu Koneru.
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MEC APPOINTS ENAM SECURITIES AS ITS INVESTMENT
BANKER
Vallabh Bhanshali, Chairman, ENAM Securities
said, ENAM has been involved in charting out
growth strategies for various companies in the
Indian power sector. As MECs advisor, ENAM will
be able to bring together its strong research
Investment banking capabilities in order to
create value for both MEC and Independent Power
Producers. MEC initiatives comes at a time when
Indian power producers are scouting globally to
secure coal mines and have been facing problems
in verifying the exact reserves as most assets
are in remote provinces. The high demand for coal
and strong prices has affected supplies as miners
in Australia, South Africa and Indonesia have
insisted on price- escalation clauses. With
thermal power plants being the back- bone of the
Indian energy sector and their requirement of
quality coal being high, MEC expects itself to
play an important role. The company has an
impressive commitment and track record in the
mining sector and has high reserves of quality
coal.
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MEC APPOINTS ENAM SECURITIES AS ITS INVESTMENT
BANKER
In order to ensure an uninterrupted flow of coal
from the mines, MEC is setting in place the
required infrastructure intends to develop a coal
jetty and a rail link of 130 kms to offload coal
from mines to the market.