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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, 18 September 09
AUSTRALIA NEWCASTLE COAL PORT: SEEKS INTERIM QUOTA SYSTEM
Reuters reported that, Australia's Newcastle coal terminal wants to re-introduce an interim export quota system after a group of miners led by BHP ...
Friday, 18 September 09
STANCHART TO ADVISE BAYAN ON INDONESIA COAL FINANCING
Indonesian coal miner PT Bayan Resources Tbk said on Wednesday it has appointed Standard Chartered Bank as a financial adviser for raising at least ...
Friday, 18 September 09
COKING COAL SUPPLY TO FALL 3 MILLION TONS IN CHINA ON SHUTDOWN
Bloomberg reported that, Coking coal supply in China, the largest consumer, may fall by 3 million metric tons a month after a mine accident this mon ...
Thursday, 17 September 09
FOUR LEFT IN INDIA'S MMTC COAL IMPORT TENDER-SOURCE
Reuters reported that, India's MMTC Ltd has accepted four out of five submissions for an import tender for 12.5 million tonnes of coal, with a bid ...
Thursday, 17 September 09
INDIA SEEKS COAL
IBT commodities reported that, India is on a coal buying spree. The big Asian nation is scrambling to cover an expected shortfall in domestic supply ...
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- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Marubeni Corporation - India
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Posco Energy - South Korea
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- The University of Queensland
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- PTC India Limited - India
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
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