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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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Friday, 20 December 13
US PRODUCED 2.71% MORE COAL WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal in ...
Friday, 20 December 13
DRY BULK MARKET SLUMPS AHEAD OF HOLIDAY SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As has been the case in recent years, the dry bulk market has been on a downward trend ahead of the Holiday Season for a large part of the world. Th ...
Thursday, 19 December 13
SHIPPING CONFIDENCE HITS THREE-YEAR HIGH - MOORE STEPHENS
Overall confidence levels in the shipping industry rose to their highest level for more than three years over the three-month period to November 201 ...
Wednesday, 18 December 13
SNP ACTIVITY IN CHINA SEEMS TO BE SLOWING DOWN - CHRISTOS TRAGEAS
Approaching the end of the year, SnP activity in China seems to be slowing down in comparison to the first half of this quarter, as most Chinese Shi ...
Wednesday, 18 December 13
DEMOLITION ACTIVITY SCALED BACK AS FREIGHT RATES RISE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's always been the case that each time we witness a spike in freight rates, demolition activity is decreasing, as owners are looking for more car ...
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- GAC Shipping (India) Pvt Ltd
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- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
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- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
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- SMC Global Power, Philippines
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- White Energy Company Limited
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- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
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- Toyota Tsusho Corporation, Japan
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- Ceylon Electricity Board - Sri Lanka
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- Goldman Sachs - Singapore
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- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
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- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
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- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
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- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
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- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
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- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
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- Singapore Mercantile Exchange
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