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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, 13 December 13
DRY BULK SHIPPING TO WITNESS HEALTHY DEMAND MOVING FORWARD - ICS
The Institute of Chartered Shipbrokers Greek Branch organised its 9th Annual Forum at Eugenides Foundation, on Wednesday, 11th of December, with a r ...
Friday, 13 December 13
US PRODUCED APPROXIMATELY 18.4 MILLION SHORT TONS OF COAL W/E 7 DECEMBER 2013
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.4 million short tons (mmst) of coal in ...
Thursday, 12 December 13
GREAT EXPECTATIONS SANCTIONED - EVA TZIMA
News that sanctions on Iranian oil exports could be lifted sometime in the following months have shaken the markets recently. One of the world&rsquo ...
Thursday, 12 December 13
DRY BULK MARKET RATES FOR CAPESIZES TO REMAIN VOLATILE SAYS BIMCO
The dry bulk market has reached multi year highs this week, as the BDI is standing at the 2,300-point mark. In its analysis of the market, BIMCO pre ...
Wednesday, 11 December 13
THE INDONESIAN GOVERNMENT IS CONSIDERING SETTING A REGULATION ON THE MINIMUM PURITY TO REGULATE UNPROCESSED ORE BAN
COALspot.com: Energy and Mineral Resources Minister Jero Wacik recently proposed to house those mining (mineral) companies that had shown a commitme ...
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- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
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- Wood Mackenzie - Singapore
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
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- Indika Energy - Indonesia
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- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Medco Energi Mining Internasional
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- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- The University of Queensland
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
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