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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, 13 June 09
CLEARLY THE DRIVER FOR DRY BULK MARKET SEEMS TO BE IMPORTS BY CHINA - VISTAAR SINGAPORE
COALspot.com (Singapore): The market saw mixed results last week. The beginning of the week saw the indices dropping including the futures , however t ...
Friday, 12 June 09
SOUTH SUMATERA SPEEDS UP INTERNATIONAL HARBOR CONSTRUCTION - TEMPO INTERACTIVE
The South Sumatera Government will speed up construction of the international harbor Tanjung Api-Api. The harbor is a strategic entry point for comm ...
Friday, 12 June 09
CHINA SHENHUA NOT EYEING NEW FOREIGN COAL MINES - MEDIA
China Shenhua Energy Co Ltd , the top Chinese coal miner, will not consider buying any major overseas mines before it starts operating the Watermark ...
Friday, 12 June 09
CHINA TOP POWER COS SIGN REGIONAL COAL DEALS - REUTERS
China's top five power generating groups have signed 2009 coal supply contracts with miners in Guizhou and Xinjiang, with prices up 4 percent on th ...
Friday, 12 June 09
MERCATOR LINES TARGETS 30 MILLION TONNE FROM MOZAMBIQUE COAL MINE - STEEL GURU
India’s second largest private shipping company Mercator Lines has targeted production of 30 million tonnes of coal from its Mozambique mine o ...
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- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Economic Council, Georgia
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Posco Energy - South Korea
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
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