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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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Sunday, 26 July 09
CESC PLANS 2000 MW POWER PLANT IN BIHAR
Jai Bihar reported that, RPG flagship company CESC Ltd on Friday unveiled its plan to set up a 2,000 MW power generation plant at Pirpainti near Bha ...
Saturday, 25 July 09
HUANENG EYES MAJORITY STAKE IN PT BERAU COAL
CCTV reported that, China's largest publicly traded power company has submitted a bid for controlling stake in Indonesia's fifth largest coal mine ...
Saturday, 25 July 09
ADANI POWER TO IMPORT COAL FOR MUNDRA PLANT
BL reported that more than 50% of the coal requirement for Adani Power’s 4,620 MW Mundra plant will have to be imported from Indonesia though ...
Friday, 24 July 09
INDONESIAN COAL NEWS - UPDATE
Income from tax slow
Since the economic crisis in October 2008 until now, tax from the general mining sector is slow. According to the Director Gene ...
Friday, 24 July 09
S.AFRICA JAN-JUNE EXPORTS TO ASIA AROUND 1.4 MLN T
* China takes 140-150,000 tonnes
* S.Korea imports zero
* Hong Kong utilites buy S.African coal
South African coal exports to Asia excluding India a ...
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- Salva Resources Pvt Ltd - India
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- Singapore Mercantile Exchange
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- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
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- Ministry of Mines - Canada
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- PNOC Exploration Corporation - Philippines
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- Bhatia International Limited - India
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- Indian Oil Corporation Limited
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- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
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- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
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- Wood Mackenzie - Singapore
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- Economic Council, Georgia
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- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
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- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
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- Vedanta Resources Plc - India
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- Kohat Cement Company Ltd. - Pakistan
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- The University of Queensland
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- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
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- London Commodity Brokers - England
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- Bulk Trading Sa - Switzerland
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- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
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- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
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- Kideco Jaya Agung - Indonesia
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- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Planning Commission, India
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
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- Krishnapatnam Port Company Ltd. - India
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- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
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- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
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- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
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- Holcim Trading Pte Ltd - Singapore
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- Electricity Authority, New Zealand
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
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- Thiess Contractors Indonesia
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- Eastern Coal Council - USA
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- Standard Chartered Bank - UAE
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