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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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Monday, 30 December 13
INDONESIAN COAL TO BE PART OF INDEX DETERMINING POWER TARIFFS - BUSINESS STANDARD
In a significant move, power sector regulator CERC has decided to provide 50 per cent weightage for Indonesian coal in the benchmark index that is u ...
Friday, 27 December 13
THE EXPORT OF UNPROCESSED MINERALS WOULD NOT BE ALLOWED AFTER 12 JAN 2014 - INDONESIAN ENERGY MINISTER
COALspot.com: The government of Indonesia will implement Law No. 4 of 2009 on Mineral and Coal in full and consistently by January 12, 2014, said, m ...
Friday, 27 December 13
INDONESIA SHIPPED 15.75 PERCENT MORE COAL IN NOVEMBER
COALspot.com: Indonesia, the world's 4th largest coal producer and the largest multi grade coal exporter shipped over $2* billion worth of co ...
Wednesday, 25 December 13
DRY BULK INDEX LOST SOME GROUND THIS PAST WEEK - INTERMODAL
Chartering (Wet: Firm+ / Dry: Softer - )
The Dry Bulk Index lost some ground this past week, on the back of activity slowing down befor ...
Wednesday, 25 December 13
SHIPPING : AS FAR AS THIS CYCLE IS CONCERNED, 'WE HAVE SEEN THE WORST....!' - JOHN N. COTZIAS
In a week’s time the year comes to an end. Having been a speaker in two seminars over the past 5 days I was able to see the year ending trends ...
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- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- The University of Queensland
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Australian Coal Association
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
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