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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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Tuesday, 07 July 09
Q+A - INDONESIA MINING SECTOR FACES ELECTION RISKS - REUTERS
Indonesia has struggled to lure foreign investment to its mining sector in recent years, and the nationalist line on resource exploitation taken by ...
Tuesday, 07 July 09
INDIKA ENERGY COMPLETES THE ACQUISITION OF PETROSEA
TAMBANG reported that, PT Indika Energy, Tbk has officially announced that it has completed the acquisition of PT Petrosea, Tbk. from Clough Interna ...
Tuesday, 07 July 09
RUSSIAN AUDITORS ATTACK COAL EXPORTERS OVER PRICING
Russia's budget is losing substantial revenues because the country's exporters ship coal overseas at artificially low prices through various offsh ...
Tuesday, 07 July 09
RBCT COAL EXPORTS TO REMAIN BELOW CAPACITY IN 2009
Coal volumes railed to South Africa’s Richards Bay Coal Terminal are continuing to fall far short of the corridor’s nameplate yearly cap ...
Tuesday, 07 July 09
TATA POWER AID THE INDONESIAN COAL MINES
BL reported that Mr Prasad Menon MD of TATA Power aid the Indonesian coal mines PT Kaltim Prima Coal and PT Arutmin Indonesia in which TATA Power ha ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
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- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
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- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- The Treasury - Australian Government
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- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
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- Chamber of Mines of South Africa
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- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
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- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Anglo American - United Kingdom
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
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- Bulk Trading Sa - Switzerland
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- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
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- Energy Development Corp, Philippines
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- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
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- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
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- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
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- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
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- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
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