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Thursday, 26 December 13
COAL & OIL GROUP SECURES US$ 250 MILLION FUNDING FOR ITS 1200MW THERMAL POWER PLANT IN INDIA
 COALspot.com: Dubai-based Coal & Oil (C&O) Group has announced that it has secured additional funding of approximately Dhs. 1 billion (approximately US$250 million), to complete its 1200mw Independent Power Plant (IPP), presently under construction in Tuticorin, Tamilnadu, India.
According to Coal & Oil’s press release, developed in the Tuticorin District, Tamil Nadu, the Mutiara Thermal Power Plant aims to address the 5,000 mw power shortage in the state. The plant owes its development to Coastal Energen Pvt Ltd, the power generating Flagship Company of the Coal & Oil Group, and perhaps the region's second-largest private investor, with capital expenditures exceeding Dhs. 4.25 billion (approximately US$ 1.1 billion). The IPP will benefit from close proximity to both a major city (Tuticorin) and major port, as well as excellent road, rail and air connectivity. It is currently the first and only mega project that has commenced out of the 30 which were planned in the past 15 years.
Commenting on the immense potential of the project, Mr. Ahmed Buhari, Founder, President and CEO of the Coal and Oil Group, said, "India, and particularly, the state of Tamil Nadu, is currently facing severe power shortage. Our power project will be able to partly mitigate the hardships being faced by the state. In fact, we have committed to supplying a large part of our generation to the state grid."
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| Photo Courtesy: Coal & Oil, Dubai |
The first unit of the power plant is expected to be commissioned by Q3 2014, while the second unit may follow in 6 months. According to market information all India installed capacity has reached about 134,888 MW (coal based ) as of 31 October 2013.
Currently, the largest construction in the region, the Mutiara power plant has obtained Dhs. 3.25 billion (approximately US$ 884.811 million) in funding from a consortium of Indian banks led by the State Bank of India. This latest sanction will contribute to last mile funding and address cost escalation due to recent steep rupee devaluation, among other things. The power plant is slated for completion by June 2014.
Coal & Oil Group is a US$ 750 million Integrated Energy Company involved in various aspects of Energy supplies, including coal trading, mining, shipping, logistics and power generation. Established in Dubai in 1998, it is one of the largest suppliers of coal to India. Its maiden power project, through its subsidiary, Coastal Energen Pvt Ltd, is a logical extension of the company's core Energy Management.
Total tonnage of coal imported and supplied into India by Coal & Oil was about 9 million tons in 2013. Indonesian origin of 4200 GAR coal was dominating Coal & Oil’s imports in to India in 2013.
C&O plans to import 13-15 Million tons of coal into India during the fiscal year 2014-15. Coal & Oil's annual coal import will jump over 20 million per annum, once MTPP, the 1200 Mw power plant commenced its commercial operation by 2014.
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Wednesday, 01 January 14
COAL & OIL TO SET UP ANOTHER 1,600 MW POWER PLANT IN INDIA - VENKATARAMANI
COALspot.com: Dubai-based Coal & Oil (C&O) Group is planning to make additional investment of around US$ 1.61 billion to set up 1,600 mega w ...
Wednesday, 01 January 14
DRY BULK CARRIER OWNERS ANTICIPATING AN EVEN STRONGER 2014 YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
To begin with, The Hellenic Shipping News Worldwide team would like to wish you all a Happy and Prosperous 2014! We begin the New Year with our firs ...
Tuesday, 31 December 13
INDONESIA'S COAL PRODUCTION COULD HIT 450 MMT IN 2014 - ICMA
COALspot.com: Indonesia, the fourth largest coal producer and largest coal exporter in the world, to increase coal output in year 2014 instead of th ...
Tuesday, 31 December 13
U.S. COAL PRODUCTION INCREASED WEEK ON WEEK, EIA SAYS
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.5 million short tons (mmst) of coal in ...
Tuesday, 31 December 13
MORE THAN $21 BILLION INVESTED IN SECOND HAND SHIP PURCHASES IN 2013
One thing that was apparent in the sale and purchasing markets during 2013 was the ship owners' larger appetite for vessel acquisitions, as most so ...
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- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Australian Coal Association
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- PTC India Limited - India
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- The University of Queensland
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
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