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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, 14 August 09
GUACOLDA STARTS THIRD COAL-FIRED UNIT
Macorship reported that, Chile’s Empresa Electrica Guacolda said that the third unit at its Guacolda coal-fired power plant began supplying po ...
Thursday, 13 August 09
RIO PREPARES COAL IPO AFTER FAILING TO FIND BUYER
Bloomberg reported that, Rio Tinto Group, the world’s third- largest mining company, is preparing an initial public offering for its U.S. ...
Thursday, 13 August 09
NOBLE'S PROFIT DOUBLES ON GLOUCESTER COAL ACQUISITION
Bloomberg reported that, Noble Group Ltd., a Hong Kong-based supplier of raw materials from soybeans to coal, said second- quarter profit more than ...
Thursday, 13 August 09
CHINA COAL-PRICES UNCHANGED, BUT LIKELY TO MOVE HIGHER
Alibaba reported that, Spot coal prices in China's top coal port Qinhuangdao were unchanged from a week earlier, but are still looking bullish in t ...
Thursday, 13 August 09
INDONESIA'S BERAU COAL SEES 2010 OUTPUT UP 16 PCT
Reuters reported that, Indonesia's fifth-largest coal miner, PT Berau Coal, expects 2010 production to be nearly 16 percent higher than this year, ...
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- Electricity Authority, New Zealand
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- Holcim Trading Pte Ltd - Singapore
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- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
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- Antam Resourcindo - Indonesia
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- Orica Australia Pty. Ltd.
- The University of Queensland
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- IHS Mccloskey Coal Group - USA
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- Indian Oil Corporation Limited
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- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Australian Coal Association
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- Siam City Cement - Thailand
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- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
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- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
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- Kohat Cement Company Ltd. - Pakistan
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- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
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- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
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- Simpson Spence & Young - Indonesia
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- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
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- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
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- Star Paper Mills Limited - India
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- Central Electricity Authority - India
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- Mercuria Energy - Indonesia
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- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
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- IEA Clean Coal Centre - UK
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- Indian Energy Exchange, India
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- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
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