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Friday, 26 September 14
ORACLE SIGNS EPC FRAMEWORK AGREEMENT WITH SEPCO FOR COAL MINE AND POWER PLANT IN PAKISTAN
 COALspot.com: Oracle Coalfields PLC, the UK developer of a lignite coal mine and power plant in the south-eastern Sindh Province, Pakistan, has announced that the Company has made significant further progress towards delivering the commercial potential of Block VI in the Thar Coalfields.
According to Oracle’s press release, Oracle has signed an Engineering Procurement and Construction (EPC) Framework Agreement in Beijing with SEPCO Electric Power Construction Corporation (SEPCO), leading power and construction group in China.
SEPCO has also proposed a financing structure to potentially securitise up to 85 percent of the cost of the two EPC contracts.
Highlights:
- SEPCO has been selected as preferred contractor to enter into two lump sum turnkey EPC contracts for both the 4.2 million tonnes per annum Coal Mine and the 600MW Power Plant; the combined EPC price or transaction value is circa US dollar 1.3 Billion. This figure is subject to modification during the finalisation of the detailed contracts.
- SEPCO has delivered an outline of the financing proposal for project finance loans under which Sinosure would consider securitising up to 85 percent of the cost of the two EPC contracts.
- SEPCO has agreed to consider taking an equity stake of 10 percent in EPL, which is to be formed in Pakistan by Oracle, after due diligence has been completed.
- A comprehensive EPC Term Sheet for the coal mine and power plant is expected to be agreed between Oracle and SEPCO by year-end 2014 in preparation for the final investment decision, and for groundwork to commence in mining and power plant development in 2015.
- Oracle has appointed Turner & Townsend and Mott MacDonald (leading international project consultants and managers with expertise in China), as technical advisers for the coal mine and power plant respectively and to manage the process of entering into EPC term sheets and contracts with SEPCO. The EPC contracts will be developed to comply with Oracle's technical requirements, Power Purchase Agreement, Coal Sales Agreement and other agreements to be entered with Oracle's Pakistan subsidiaries, and Pakistan authorities.
- Oracle and SEPCO aim to finalise the necessary documents within six months of this agreement and have entered an exclusive agreement for this period with possible extension by mutual agreement.
Entering the EPC Framework Agreement with and receiving a financing proposal from one of China's largest State-Owned Enterprises in the energy sector is another step towards bringing the project to reality, Oracle said in its press release.
“ Both SEPCO and Oracle are eager to succeed in the development of our integrated coal mine and power plant project and to play an effective role in addressing Pakistan's energy crisis,” said Shahrukh Khan, CEO of Oracle.
Liu Chuanming, Chairman of SEPCO, noted: “ We at SEPCO are confident of Oracle's endeavors to develop one of Pakistan's largest energy projects and are delighted to be Oracle's preferred EPC contractor and partner for the coal mine and power plant project.
Oracle has demonstrated its high standards in taking their project to this level that complements SEPCO standards in project execution and financing.
According to Oracle’s website, Oracle developing Pakistan's first large scale open pit coal mine. Oracle Coalfields is an AIM listed (AIM:ORCP) coal developer. The company’s primary interest is the Thar Coalfield Block VI licence area located in the Sindh Province, south-eastern Pakistan, a 1.4 billion tonnes resource with 529 million tonnes JORC mineral resource and 113 million tonnes JORC proven reserves within the mining area of the licence.
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Thursday, 16 October 14
PANAMAX OWNERS RECEIVE A PREMIUM FOR GOING TO INDIA VIA INDONESIA - FEARNLEYS AS
Handy
The Handy/Supra market continues to slide in both hemispheres, said Fearnleys AS in its latest week report. In the Atlantic we see rates co ...
Thursday, 16 October 14
ARE WE GOING TO SHOOT OURSELVES IN THE FOOT ONCE AGAIN? - PANOS MAKRINOS
As the East part of our globe was coming back from its October holidays last week, everyone expected that the Dry Bulk market would follow suit and ...
Wednesday, 15 October 14
PANAMAX: ACTIVITY IN THE PACIFIC WAS UNIMPRESSIVE
The Dry Bulk market noted another weekly decline last week, while the BDI moved below 1,000 points taking down with it expectations that a post hol ...
Wednesday, 15 October 14
INDONESIAN COAL PRICE REFERENCE FELL TO FRESH MULTI-YEAR LOWS IN OCTOBER
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in October 2014.
...
Wednesday, 15 October 14
DRY BULK SHIPPING: RATE IMPROVEMENTS ARRIVED AS FORECAST, BUT UNCERTAINTY MOUNTS FOR 2015 DEMAND - BIMCO
BIMCO released its latest short term assessment of the dry bulk market, estimating that over the October-November period, the level of Capesize TC ...
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- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
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