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Thursday, 09 July 09
COAL AND OIL GROUP TO INVEST $300 MN TO BUY SHIPS AND ACQUIRE COAL MINE
 Coal & Oil Group is planning to invest around $300 million (around Rs 1,500 crore) to buy new ships and to acquire coal mines. The company is planning to invest the money to support its customer coal requirements in India and to meet its captive requirement for the upcoming project Rs 4,300 crore power at Tuticorin.
Speaking to Business Standard here Ahmed A R Buhari, founder and CEO, Coal and Oil Group Companies said that the company is looking at acquiring six panamax vessels with an investment of $200 million (around Rs 1,000 crore). These ships will be deployed to carry coals from various mines in Indonesia and South Africa to India.
He added, the company is also planning to acquire coals mines in Indonesia. “Currently we are buying coals from the mine owners to cater our Indian customers, since the demand is increasing we have decided to acquire coals mines”. Currently the company is negotiating with mine owners in Indonesia. Investment in the project would be around $100 million (around Rs 500 crore).
Buhari noted currently the company is supplying around six million tonnes of coal to Indian customers and every year 130 ships, for which the company had entered into long term and short term charter contracts with owners, are deployed to transport the cargo. Of the six million tonnes 70 per cent are sourced from Indonesia while rest sourced from various South African mines.
From 2010-11 onwards the company will be transporting 15 million tonnes of coals both for Indian customers and for its captive purpose. It may be noted the company is setting up a Rs 4,300 crore power plant in Tuticorin, for which the company recently concluded the financial closure.
The 2 x 600 mega watt (MW), coal fired power plant at Tuticorin will be commissioned within 36 months and has provision to expand upto 4000 MW. The plant will supply power to the state electricity board and to the private sector, for which a 700 MW contract has been signed with Tata Power. This power plant marks Coastal Energen’s foray into power generation in the State.
Coastal Energen, the power generating flagship company of Coal & Oil Group, has been promoted by Ahmed Buhari and the Coal & Oil Group with a 30 per cent strategic stake being held by the AW Rostamani Group of Dubai, UAE.
C&O is a Rs 2,000 crore Integrated Energy Company, Promoted by Ahmed Buhari and his family (the co-promoters of the $ 5 billion ETA - Ascon and Buharia Group) and the Al Rostamani Group of Dubai (a $ 1.5 billion group) which was established in 1998.
Source:Business-Standard
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Wednesday, 15 July 09
BANGLADESH TO IMPORT COAL FROM INDIA FOR 1 MORE YR
Bangladesh has decided to import coal from neighbour India for another year to save foreign exchange and time, a commerce ministry official said on ...
Wednesday, 15 July 09
INDONESIAN FIRM SUBMITS LOWEST BID FOR NAPOCOR COAL
ABS-CBN News reported that, An Indonesian firm offered to supply 195,000 tons of thermal coal to top Philippine electricity producer National Power ...
Wednesday, 15 July 09
INDIAN COAL MINISTRY TO CONSIDER POWER PLANT ALTERATION PROPOSALS
PTI reported that the coal ministry has agreed to consider applications of power plants seeking long term coal linkage due to enhancement in electri ...
Wednesday, 15 July 09
SHENHUA STARTS WORK ON INDONESIA POWER PLANT
Bloomberg reported that China Shenhua Guohau Power a unit of China’s biggest coal producer started construction of a power plant and mine in I ...
Wednesday, 15 July 09
PLN OPENS TENDERS FOR SUPPLY OF LOW - GRADE COAL
The Jakarta Globe, a Indonesian new paper reported that, State power utility PT PLN has opened a tender for the supply of low-grade coal for the nat ...
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- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
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- Goldman Sachs - Singapore
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- The Treasury - Australian Government
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- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
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- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
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- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
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- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
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- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
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- Gujarat Electricity Regulatory Commission - India
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- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Planning Commission, India
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
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- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
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- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
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- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
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- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
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- Australian Coal Association
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Independent Power Producers Association of India
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- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
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- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Petron Corporation, Philippines
- India Bulls Power Limited - India
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- Medco Energi Mining Internasional
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- Savvy Resources Ltd - HongKong
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- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
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- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
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