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Thursday, 09 July 09
COAL AND OIL GROUP TO INVEST $300 MN TO BUY SHIPS AND ACQUIRE COAL MINE
 Coal & Oil Group is planning to invest around $300 million (around Rs 1,500 crore) to buy new ships and to acquire coal mines. The company is planning to invest the money to support its customer coal requirements in India and to meet its captive requirement for the upcoming project Rs 4,300 crore power at Tuticorin.
Speaking to Business Standard here Ahmed A R Buhari, founder and CEO, Coal and Oil Group Companies said that the company is looking at acquiring six panamax vessels with an investment of $200 million (around Rs 1,000 crore). These ships will be deployed to carry coals from various mines in Indonesia and South Africa to India.
He added, the company is also planning to acquire coals mines in Indonesia. “Currently we are buying coals from the mine owners to cater our Indian customers, since the demand is increasing we have decided to acquire coals mines”. Currently the company is negotiating with mine owners in Indonesia. Investment in the project would be around $100 million (around Rs 500 crore).
Buhari noted currently the company is supplying around six million tonnes of coal to Indian customers and every year 130 ships, for which the company had entered into long term and short term charter contracts with owners, are deployed to transport the cargo. Of the six million tonnes 70 per cent are sourced from Indonesia while rest sourced from various South African mines.
From 2010-11 onwards the company will be transporting 15 million tonnes of coals both for Indian customers and for its captive purpose. It may be noted the company is setting up a Rs 4,300 crore power plant in Tuticorin, for which the company recently concluded the financial closure.
The 2 x 600 mega watt (MW), coal fired power plant at Tuticorin will be commissioned within 36 months and has provision to expand upto 4000 MW. The plant will supply power to the state electricity board and to the private sector, for which a 700 MW contract has been signed with Tata Power. This power plant marks Coastal Energen’s foray into power generation in the State.
Coastal Energen, the power generating flagship company of Coal & Oil Group, has been promoted by Ahmed Buhari and the Coal & Oil Group with a 30 per cent strategic stake being held by the AW Rostamani Group of Dubai, UAE.
C&O is a Rs 2,000 crore Integrated Energy Company, Promoted by Ahmed Buhari and his family (the co-promoters of the $ 5 billion ETA - Ascon and Buharia Group) and the Al Rostamani Group of Dubai (a $ 1.5 billion group) which was established in 1998.
Source:Business-Standard
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Thursday, 23 July 09
INDONESIA COAL-PRICES CLIMB TO $80, INDIAN DEMAND SLOWS
Reuters reported that, prices of power-station coal in Australia, a benchmark for Asia, jumped to nearly $80 a tonne this week, while Indonesi ...
Thursday, 23 July 09
COAL IMPORTS SURGE; EXPORTS DOWN IN H1
China Trade Information reported that, China’s coal imports surged by 126.3 percent year-on-year in the first half of 2009, reaching 48.3 mill ...
Thursday, 23 July 09
SRI LANKA CALLS FOR COAL SUPPLY BIDS
Daily Mirro reported that, In a move to install the country’s first coal power plant, Sri Lanka has invited bids to supply 2.4 million metric ...
Thursday, 23 July 09
POWER INVESTORS TURN BACKS ON VIETNAMESE COAL IMPORTERS
VietNamNet Bridge reported that, Investors of power plants always seek foreign coal sources to import themselves, believing they can come by it chea ...
Wednesday, 22 July 09
BERAU COAL DRAWS LOCAL, CHINESE BIDS - SOURCES
* Indonesian coal firm draws local, Chinese bids-sources
* Deal could value Berau at more than $1 billion-sources
Reuters reported that, China' ...
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- Vizag Seaport Private Limited - India
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- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
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- White Energy Company Limited
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- Directorate Of Revenue Intelligence - India
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- Coal and Oil Company - UAE
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- Electricity Generating Authority of Thailand
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- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
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- CNBM International Corporation - China
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- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
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- South Luzon Thermal Energy Corporation
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- Gujarat Electricity Regulatory Commission - India
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
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- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Parliament of New Zealand
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- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
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- Baramulti Group, Indonesia
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- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
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- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
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- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
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- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
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- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
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- IEA Clean Coal Centre - UK
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- SMG Consultants - Indonesia
- Minerals Council of Australia
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- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
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- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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