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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, 28 August 09
COAL MINE BUYERS DUST OFF THEIR CASH ( ANALYZED BY REUTERS)
* Coal asset buyers give up waiting for bargains
* Mining majors expected to buy not sell
* South Africa a target, Indonesia less so
By Jackie ...
Friday, 28 August 09
JSW MAY BUY AFRICAN MINE FOR US$ 350
The Economic Times Reported that, The Sajjan Jindal-owned JSW Group is in advanced talks to acquire a coal mine in Swaziland, Africa, at an estimate ...
Friday, 28 August 09
COAL INDIA ALLOWED TO IMPORT COKING COAL
The government Thursday allowed the state-owned Coal India to import coking coal and high grade ash thermal coal by acquiring coal properties abroad ...
Thursday, 27 August 09
CIL TO SPEND US$ 1 - 1.5 BN TO ACQUIRE ASSETS IN 4 COUNTRIES
Business Standard reported that, "Coal India is looking to spend $1-1.5 billion in acquiring mining assets in Australia, Indonesia, South Afric ...
Wednesday, 26 August 09
INDIA'S JSW TO DOUBLE JAIGARH PORT CAPACITY TO 20 MT
Sea Trade Asia reported that, JSW Jaigarh Port, a wholly owned subsidiary of JSW Infrastructure & Logistics, plans to double cargo handling capa ...
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- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
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- Indian Oil Corporation Limited
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- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- PTC India Limited - India
- Videocon Industries ltd - India
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
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