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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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Wednesday, 26 August 09
JSW ENERGY NEARS COAL-SUPPLY LINKAGE DEAL IN INDONESIA
Sajjan Jindal-owned JSW Energy is close to finalising a coal-supply linkage pact in Indonesia and is also exploring options of acquiring ...
Wednesday, 26 August 09
COAL INDIA MAY HIKE COAL PRICES BY UP TO RS 175 (ABOUT US$ 3.60) A TONNE
The Economic Times reported that, state-owned Coal India may hike coal prices by up to Rs 175 (~ US$ 3.60) a tonne to close the gap between domestic ...
Tuesday, 25 August 09
KOREA TO INTRODUCE COAL-MINING ROBOTS TO REDUCE THE RISK OF HUMAN LOSSES FROM CONVENTIONAL MINING
Far East Gizmos reported that, The state-run Korea Coal Corp. (KOCOAL) signed a memorandum of understanding (MOU) on Monday with three Korean engine ...
Tuesday, 25 August 09
INDIA'S GNFC EXTENDED ONLINE BIDDING FOR PURCHASE OF 260,000 T COAL TO 23RD SEPTEMBER 2009
COALspot.com (India): Gujarat Narmada Valley Fertilizers Co. Ltd. (GNFC) invites offers (e-Tender) for supply of 130,000 MT +/- 5% on firm basis and ...
Tuesday, 25 August 09
ANTAM CONSIDERS ACQUIRING BHP
The Jakarta Post reported that, State mining company PT Aneka Tambang (Antam) is contemplating acquiring BHP Billiton's coal concessions in Central ...
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- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Planning Commission, India
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- The University of Queensland
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
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