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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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Saturday, 04 July 09
S. AFRICA'S RICHARDS BAY TO CAP NEW COAL VOLUMES, MININGMX SAYS
South Africa’s Richards Bay Coal Terminal is proposing restrictions on the quotas it awards to coal exporters from the so-called Phase 5 expansi ...
Saturday, 04 July 09
DALRYMPLE BAY COAL TERMINAL EXPANSION COMPLETE
BABCOCK & Brown Infrastructure has completed expansion of the Dalrymple Bay Coal Terminal (DBCT) near Mackay, Queensland.
The terminal is now ...
Friday, 03 July 09
CHINA SHENHUA TO DOUBLE COAL CAPACITY BY 2014-PAPER
China Shenhua Energy Co Ltd plans to double its annual coal production capacity by 2014 from this year's level, the China Securities Journal report ...
Friday, 03 July 09
UKRAINE CUTS COAL PRODUCTION 9.3 PERCENT IN H1
Ukraine reduced coal production approximately 9.3%, or by 3.673 million tonnes, to 35.879 million tonnes in the first half of 2009 compared to the s ...
Thursday, 02 July 09
PETCOKE BOOMS AS CEMENT MAKERS TRY TO REPLACE COAL
* Cement makers led by Asia chase petcoke to replace coal
* Petcoke prices up $10/T Feb-Jun, set to rise further
* Domestic U.S. petcoke demand ma ...
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- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
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- Billiton Holdings Pty Ltd - Australia
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- Independent Power Producers Association of India
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- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
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- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
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- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
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- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
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- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
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- McConnell Dowell - Australia
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- Bangladesh Power Developement Board
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- Global Business Power Corporation, Philippines
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- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
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- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
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- Altura Mining Limited, Indonesia
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- Cement Manufacturers Association - India
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- Mintek Dendrill Indonesia
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- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
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- Attock Cement Pakistan Limited
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- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
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- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Energy Link Ltd, New Zealand
- MS Steel International - UAE
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- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
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- Orica Australia Pty. Ltd.
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- The University of Queensland
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- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
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