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Tata Power’s Singapore-based subsidiary Trust Energy Resources has been conferred the ‘International Maritime Awards – 2013’ by the Singapore Government. The award grants the company tax exemption for shipping operations, besides incentives. Trust Energy’s core business is fuel logistics and fuel trading, mainly for the Tata Power Group. It aims to provide integrated coal supply chains from Indonesia, Australia and Africa to India. Trust Energy operates five cape vessels, own and chartered through Energy Eastern (a Coastal Gujarat Power subsidiary) and provides dedicated freight solutions to the 4000 MW Mundra power plant. Coastal Gujarat Power is a special purpose vehicle formed for setting up and operating the Mundra plant. K.V. Rao, Managing Director, Trust Energy, said, “Singapore is a natural fit for our fuel supply chain. It has helped us to quickly leverage the skills, networks and critical capabilities in Singapore to build a compelling value proposition to Tata Power's imported coal supply chain for Mundra.”
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