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Friday, 17 July 09
INDIA COAL TRADERS MUST OWN POWER, MINES - C&O BOSS
 · Coal traders need to diversify to grow
· Coastal Energen to build first merchant power plant
· Tamil Nadu to see strong power demand growth
INTERVIEW - by Reuters: Coal traders in India need to diversify into power generation and mining to succeed in an increasingly competitive business, Ahmed Buhari, founder president of Dubai-based traders Coal & Oil (C&O), said. C&O, which is seeking mines to buy, aims to gain an edge over competitors by building a coal-fired power plant in Tamil Nadu in southern India, Buhari said.
Its associate company Coastal Energen earlier this month finalised $800 million of financing, mostly from the State Bank of India, to build a 1,200 MW coal-fired plant at Tuticorin. The project is for a merchant power plant. These have no single sales contract for the term of the project debt and have to sell power as a commodity as well as via offtake agreements.
"This is the first power plant in India to get financing for a merchant plant model," Buhari told Reuters in an interview on Wednesday.
"Raising that level of financing for a merchant plant was not an easy thing to do in these times when credit is tough. But the banks were satisfied," he said.
"C&O will no longer be just a trader but an integrated and diverse energy supplier. That's our strategy. It's no longer enough to merely trade coal," Buhari said.
 C&O, founded by Buhari in 1998, is one of the key players in coal supply to the subcontinent. The company sells over 6 million tonnes of imported coal a year and has supply agreements with major producers in Indonesia, South Africa and Australia.
Privately-owned C&O's 2008 turnover was $500 million. India's coal imports have grown rapidly from almost nothing five years ago to a projected 70 million tonnes in the next fiscal year. Imports will continue to rise fast over the next 10-15 years because domestic supply cannot meet demand.
A few large traders dominate imports but competition is intensifying.
"The game is now changing in India," he said. "The state electricity boards, independent power producers, the big listed consumers, are looking for solid, stable suppliers of coal. Diversifying into generation strengthens our company and draws upon our years of expertise in fuel supply," he said.
Risks facing coal suppliers and consumers are much higher now, he said.
EASY ACCESS FOR INDONESIAN COAL
Tuticorin was an obvious site for a coal-fired plant designed to use low-quality Indonesian coal, Buhari said.
"At C&O we're all from Tamil Nadu. We're sons of the soil."
The plant's proximity to Tuticorin port makes it easy to bring in coal from Indonesia. There is easy access to the grid and a good choice of available land, he said.
India's two major areas of power growth are the Western states such as Punjab, Rajasthan, Maharashtra and Gujarat and in the South, Tamil Nadu, Kerala, Karnataka and Andhra Pradesh. Per capita power consumption in the south is low -- below that of China, he said, but with great potential to grow.
"Tamil Nadu is also the automotive hub of India. It's the Detroit of the South.
We have Hyundai, Ford, already there and many others are relocating to the south," he said. The information technology industry, steel, textiles and others also see the advantages of relocating there.
For example, Karnataka has large iron ore reserves, he said. Industrial growth in the region requires more power. At least 30,000 MW of generation capacity needs to be added in South India over the next five years, he said.
Coastal Energen has offtake agreements already. Tata Power will take most of the power, 25 percent will go to the state government, some to neighbouring states such as Kerala.
The plant can be expanded from 1,200 MW to 3,600-4,000 MW.
The company aims to sign "cap and collar" supply deals with Indonesian producers, he said. These set a minimum and maximum price, which offer some protection from price volatility.
Chinese boiler manufacturer Harbin Boiler Co Ltd will deliver the plant boilers within 22 months. Generation will start in three years.
Source: Reuters (Reporting by Jackie Cowhig, editing by Anthony Barker)
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Friday, 20 November 09
CHINESE COKING COAL SUPPLY TO BE 'TIGHT' IN 2010, KGI SAYS
Bloomberg Reported that, Stephen Wang, an analyst with KGI Securities in Taipei, comments on the outlook for Chinese steel production and demand for ...
Friday, 20 November 09
INDONESIAN CO PLANS JV WITH NAGARJUNA
Economic Times reported that, Infrastructure firm Nagarjuna Constructions Company (NCC) is set to form a joint venture with an Indonesian coal minin ...
Thursday, 19 November 09
S. KOREA TO BUY COAL FROM CHINA FOR US$ 85-90/T IN 2010
Head of one S. Korea power company on November 18 unveiled that S. Korea’s power companies may purchase coal from China at the contract price ...
Thursday, 19 November 09
SNAPSHOT OF INDONESIA'S COAL INDUSTRY - FACT BOX BY REUTERS
Indonesian plans to cap coal exports to meet domestic demand will not hit global supplies in the near term, but could start to bite in three to five ...
Thursday, 19 November 09
INDONESIA COAL EXPORTS CURB WILL TAKE TIME TO BITE
Indonesia's plans to cap coal exports to satisfy demand at home are unlikely to crimp global supplies for as long as five years, when new power pla ...
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- Australian Coal Association
- The University of Queensland
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- Bayan Resources Tbk. - Indonesia
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- Australian Commodity Traders Exchange
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- Singapore Mercantile Exchange
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- Larsen & Toubro Limited - India
- VISA Power Limited - India
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- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
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- Thiess Contractors Indonesia
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- New Zealand Coal & Carbon
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- Star Paper Mills Limited - India
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- Baramulti Group, Indonesia
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- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
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- Africa Commodities Group - South Africa
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- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
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- Eastern Coal Council - USA
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
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- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
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- Parliament of New Zealand
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- Carbofer General Trading SA - India
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- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
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- Gujarat Sidhee Cement - India
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- Toyota Tsusho Corporation, Japan
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- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
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- The Treasury - Australian Government
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- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
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- Wood Mackenzie - Singapore
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- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
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- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
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- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
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- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
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- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
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- Romanian Commodities Exchange
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- The State Trading Corporation of India Ltd
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- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
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- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
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- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
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- Economic Council, Georgia
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- Planning Commission, India
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