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Thursday, 26 December 13
COAL & OIL GROUP SECURES US$ 250 MILLION FUNDING FOR ITS 1200MW THERMAL POWER PLANT IN INDIA
 COALspot.com: Dubai-based Coal & Oil (C&O) Group has announced that it has secured additional funding of approximately Dhs. 1 billion (approximately US$250 million), to complete its 1200mw Independent Power Plant (IPP), presently under construction in Tuticorin, Tamilnadu, India.
According to Coal & Oil’s press release, developed in the Tuticorin District, Tamil Nadu, the Mutiara Thermal Power Plant aims to address the 5,000 mw power shortage in the state. The plant owes its development to Coastal Energen Pvt Ltd, the power generating Flagship Company of the Coal & Oil Group, and perhaps the region's second-largest private investor, with capital expenditures exceeding Dhs. 4.25 billion (approximately US$ 1.1 billion). The IPP will benefit from close proximity to both a major city (Tuticorin) and major port, as well as excellent road, rail and air connectivity. It is currently the first and only mega project that has commenced out of the 30 which were planned in the past 15 years.
Commenting on the immense potential of the project, Mr. Ahmed Buhari, Founder, President and CEO of the Coal and Oil Group, said, "India, and particularly, the state of Tamil Nadu, is currently facing severe power shortage. Our power project will be able to partly mitigate the hardships being faced by the state. In fact, we have committed to supplying a large part of our generation to the state grid."
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| Photo Courtesy: Coal & Oil, Dubai |
The first unit of the power plant is expected to be commissioned by Q3 2014, while the second unit may follow in 6 months. According to market information all India installed capacity has reached about 134,888 MW (coal based ) as of 31 October 2013.
Currently, the largest construction in the region, the Mutiara power plant has obtained Dhs. 3.25 billion (approximately US$ 884.811 million) in funding from a consortium of Indian banks led by the State Bank of India. This latest sanction will contribute to last mile funding and address cost escalation due to recent steep rupee devaluation, among other things. The power plant is slated for completion by June 2014.
Coal & Oil Group is a US$ 750 million Integrated Energy Company involved in various aspects of Energy supplies, including coal trading, mining, shipping, logistics and power generation. Established in Dubai in 1998, it is one of the largest suppliers of coal to India. Its maiden power project, through its subsidiary, Coastal Energen Pvt Ltd, is a logical extension of the company's core Energy Management.
Total tonnage of coal imported and supplied into India by Coal & Oil was about 9 million tons in 2013. Indonesian origin of 4200 GAR coal was dominating Coal & Oil’s imports in to India in 2013.
C&O plans to import 13-15 Million tons of coal into India during the fiscal year 2014-15. Coal & Oil's annual coal import will jump over 20 million per annum, once MTPP, the 1200 Mw power plant commenced its commercial operation by 2014.
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Wednesday, 08 January 14
SHIPPING: THE ABSOLUTE BOTTOM OF THE CYCLE WAS REACHED AND PASSED - GEORGE LAZARIDIS
COALspot.com: To many in the industry 2013 has been the turning point in the market where the absolute bottom of the cycle was reached and passed.
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Tuesday, 07 January 14
INDONESIA RAISES COAL PRICE THIS MONTH
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has increased government declared coal bench mark price by US$ 1.59 / MT ...
Tuesday, 07 January 14
NEWCASTLE COAL TERMINAL'S COAL EXPORTS SLIDE TO 3.54 MMT W/E 30 DECEMBER 13
COALspot.com: In the week ended December 30, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.54 ...
Tuesday, 07 January 14
US COAL OUTPUT SLIDES 9 PCT WEEK ON WEEK, EIA SAYS
COALspot.com – United States the world’s second largest coal producer, produced approximately 17.8 million short tons (mmst) of coal in ...
Monday, 06 January 14
ARGUS LAUNCHES SPOT CFR EAST COAST INDIA COAL ASSESSMENTS
COALspot.com: Global energy and commodity news and price reporting agency Argus has announced today that, the company has launched CFR coal assessme ...
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- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Edison Trading Spa - Italy
- PTC India Limited - India
- Eastern Coal Council - USA
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- The University of Queensland
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- GMR Energy Limited - India
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
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