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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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- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Minerals Council of Australia
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Trasteel International SA, Italy
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- VISA Power Limited - India
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
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