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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
ECONOMIC SURVEY 2008-09 OPEN UP COAL TO FUEL POWER PLANTS
TOI reported that the coal ministry's efforts at opening doors for full private entry through open bidding in coal mining got a boost, with the Eco ...
Tuesday, 07 July 09
POWER - STATION COAL MAY RISE ON CHINA DEMAND, SUPPLIES, UBS SAYS
Power-station coal prices in Asia may increase in 2010 because of higher demand from China, the second-largest energy-consuming nation, and supply c ...
Saturday, 04 July 09
FREIGHT FUTURE FOR 3 YEARS UNTIL 2012 WAS FAIRLY SOFT AROUND PANAMAX / US$ 16,000, SUPRAMAX / US$ 13,000 PER DAY
COALspot.com (Singapore): According to Vistaar shipping, an experinced ship operator in Singapore, the freight market was soft with bit nervousness ...
Saturday, 04 July 09
CHINA BUYS 17% OF MINER TECK RESOURCES FOR $1.5 BILLION
* To sell 17.2 percent stake to China Investment Corp
* To raise proceeds of C$1.74 bln
* Shares rise 3.2 percent (Adds details. In U.S. dol ...
Saturday, 04 July 09
MINING CONTRACT SOUGHT FOR COAL AREA IN MASBATE
Because of its coal deposits, a town in Masbate is one of the sites in the country being sought out for exploration and development by mining compan ...
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- Economic Council, Georgia
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- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
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- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
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- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
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- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- White Energy Company Limited
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- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
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- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
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- The University of Queensland
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- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
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- India Bulls Power Limited - India
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- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
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- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Planning Commission, India
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- MS Steel International - UAE
- PTC India Limited - India
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
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- Global Coal Blending Company Limited - Australia
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- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
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- Sindya Power Generating Company Private Ltd
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- London Commodity Brokers - England
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- TeaM Sual Corporation - Philippines
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- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
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- Alfred C Toepfer International GmbH - Germany
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