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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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Tuesday, 30 June 09
ARCELORMITTAL, RIO, 8 OTHERS VIE FOR COAL INDIA MINES
Coal India Ltd. short-listed ArcelorMittal, Rio Tinto Group and eight other companies to develop its abandoned mines to help ease a shortage of coal ...
Monday, 29 June 09
INDONESIA PLANS 20 PCT FOREIGN MINING SALE LAW
Indonesia plans to require foreign investors in mining firms to gradually divest shares starting from the fifth year of commercial production, but m ...
Monday, 29 June 09
CHINA ENJOYS STABLE COAL ECONOMY IN THE FIRST FIVE MONTHS OF 2009
In the first five months of the year, China's raw coal production had continued to rise, and coal market stayed in a balance in terms of supply-dem ...
Monday, 29 June 09
GOVERNMENT FINE TUNES MINING LAW
The government is planning to require all foreign-owned mining companies to divest 20 percent of their businesses to local entities after five years ...
Sunday, 28 June 09
INDIA CEMENTS TO INVEST RS 1,500 CR OVER 2 YEARS
Chennai-based India Cements is planning to invest around Rs 1,500 crore over the next two years for setting up a greenfield project in Rajasthan, po ...
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- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Parliament of New Zealand
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- The University of Queensland
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
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