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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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Monday, 30 December 13
INDONESIAN COAL TO BE PART OF INDEX DETERMINING POWER TARIFFS - BUSINESS STANDARD
In a significant move, power sector regulator CERC has decided to provide 50 per cent weightage for Indonesian coal in the benchmark index that is u ...
Friday, 27 December 13
THE EXPORT OF UNPROCESSED MINERALS WOULD NOT BE ALLOWED AFTER 12 JAN 2014 - INDONESIAN ENERGY MINISTER
COALspot.com: The government of Indonesia will implement Law No. 4 of 2009 on Mineral and Coal in full and consistently by January 12, 2014, said, m ...
Friday, 27 December 13
INDONESIA SHIPPED 15.75 PERCENT MORE COAL IN NOVEMBER
COALspot.com: Indonesia, the world's 4th largest coal producer and the largest multi grade coal exporter shipped over $2* billion worth of co ...
Wednesday, 25 December 13
DRY BULK INDEX LOST SOME GROUND THIS PAST WEEK - INTERMODAL
Chartering (Wet: Firm+ / Dry: Softer - )
The Dry Bulk Index lost some ground this past week, on the back of activity slowing down befor ...
Wednesday, 25 December 13
SHIPPING : AS FAR AS THIS CYCLE IS CONCERNED, 'WE HAVE SEEN THE WORST....!' - JOHN N. COTZIAS
In a week’s time the year comes to an end. Having been a speaker in two seminars over the past 5 days I was able to see the year ending trends ...
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- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- White Energy Company Limited
- The University of Queensland
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
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