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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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- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- ASAPP Information Group - India
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- The University of Queensland
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
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