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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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Tuesday, 07 July 09
Q+A - INDONESIA MINING SECTOR FACES ELECTION RISKS - REUTERS
Indonesia has struggled to lure foreign investment to its mining sector in recent years, and the nationalist line on resource exploitation taken by ...
Tuesday, 07 July 09
INDIKA ENERGY COMPLETES THE ACQUISITION OF PETROSEA
TAMBANG reported that, PT Indika Energy, Tbk has officially announced that it has completed the acquisition of PT Petrosea, Tbk. from Clough Interna ...
Tuesday, 07 July 09
RUSSIAN AUDITORS ATTACK COAL EXPORTERS OVER PRICING
Russia's budget is losing substantial revenues because the country's exporters ship coal overseas at artificially low prices through various offsh ...
Tuesday, 07 July 09
RBCT COAL EXPORTS TO REMAIN BELOW CAPACITY IN 2009
Coal volumes railed to South Africa’s Richards Bay Coal Terminal are continuing to fall far short of the corridor’s nameplate yearly cap ...
Tuesday, 07 July 09
TATA POWER AID THE INDONESIAN COAL MINES
BL reported that Mr Prasad Menon MD of TATA Power aid the Indonesian coal mines PT Kaltim Prima Coal and PT Arutmin Indonesia in which TATA Power ha ...
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- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Planning Commission, India
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
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- Standard Chartered Bank - UAE
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- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
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- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
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- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
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- Baramulti Group, Indonesia
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- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
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- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
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- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
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- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
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- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
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- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
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- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
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- Gujarat Mineral Development Corp Ltd - India
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- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
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- Alfred C Toepfer International GmbH - Germany
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- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
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- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
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- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- SMG Consultants - Indonesia
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- Economic Council, Georgia
- Renaissance Capital - South Africa
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