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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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Wednesday, 15 October 14
SHIPOWNER NOT LIABLE FOR CARGO DAMAGE RESULTING FROM POOR STOWAGE - CLYDE & CO
KNOWLEDGE TO ELEVATE
Russian metal trading company Yuzhny Zavod Metall Profil (YZMP), the holder of a CONGEN 1994 bill of lading, took delivery o ...
Wednesday, 15 October 14
NEWCASTLE SHIPPED 13.96 MILLION TONS OF COAL IN SEPTEMBER; UP 5.72%
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1,227.7 wor ...
Tuesday, 14 October 14
KING COAL UNDER ATTACK? - EVA TZIMA
With the last quarter of the year being well underway and with no strong signs that the Dry Bulk market could be ready for a big positive reversal, ...
Tuesday, 14 October 14
THE NEW CHINESE TRANSPORTATION TAX LAW: WHAT DOES IT MEAN FOR GREEK SHIPPING? - DELOITTE
China has recently promulgated a new law which imposes tax on profits from freights of inbound routes. The objective of the new tax law titled &ldq ...
Monday, 13 October 14
CHINESE COAL IMPORT TARIFFS YET ANOTHER BLOW TO AUSTRALIAN COAL EXPORTS - TIM BUCKLEY
COALspot.com: China’s unexpected move to reintroduce thermal coal import tariffs of 6% will have a materially negative impact on the viabilit ...
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Showing 3431 to 3435 news of total 6871 |
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- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Australian Coal Association
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- The University of Queensland
- VISA Power Limited - India
- PTC India Limited - India
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
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