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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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Friday, 10 October 14
INDONESIA TO DEVELOP DOWNSTREAM COAL INDUSTRY - JP
The government is planning to launch a program to develop the downstream coal industry to increase the commodity’s added value, an official h ...
Friday, 10 October 14
U.S. PRODUCED 83.2 MMST OF COAL IN SEPTEMBER, SAYS EIA
COALspot.com – United States the world's one of largest coal producers, produced approximately 18.6 million short tons (mmst) of coal in ...
Thursday, 09 October 14
CAPESIZE MARKET HAS CONTINUED TO SHOW WEAKNESS - FEARNLEYS
Handy
We mentioned last week that after several weeks of rate increase for the Supras, the bigger Panamaxes started to snap up better paying Supr ...
Thursday, 09 October 14
SHIPPING REMAINS CHALLENGED AS GLOBAL GROWTH DISAPPOINTS - BIMCO
The global shipping industry finds no grace from much stronger economic activity going forward, as the global recovery remains fragile and uneven. ...
Wednesday, 08 October 14
CAPES RATE FOR THE W. AUSTRALIA TO CHINA VOYAGE MOVED TO BELOW $8/MT - INTERMODAL
The Dry Bulk market remained under pressure last week, with rates for Capes remaining on the red while those for Panamaxes managed to outperform th ...
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- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
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