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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, 08 October 14
OIL COULD FALL TO USD80 BEFORE SHALE SUPPLY RESPONSE - FITCH
COALspot.com: Brent oil could fall as low as USD80 a barrel before triggering a self-correcting supply response with shale-oil drillers cutting inv ...
Wednesday, 08 October 14
IS THERE ANY BRIGHT SIDE ON THE DRY BULK SEGMENT? - YANNIS OLZIERSKY
In the movie “Life Of Brian”, a character on a nearby cross was singing the famous “Always look on the bright side of life” ...
Tuesday, 07 October 14
TAIPOWER TO IMPORT 525K MT OF LOW ASH AND EXTRA LOW SULFUR SUB-BITUMINOUS COAL
COALspot.com: Taiwan Power Company intends to procure 525,000 metric tons of low ash and extra low sulfur sub-bituminous coal for Taipower thermal ...
Tuesday, 07 October 14
SUB-BIT FOB INDONESIA COAL SWAP SHOWS A FLAT TO WEAK TREND THIS PAST WEEK
COALspot.com: Indonesian coal swaps November 2014 delivery flat week on week and gained US$ 0.10 (-0.20%) per mt day on day. The swap also lost US$ ...
Tuesday, 07 October 14
THE RIO TINTO CONFIRMS THAT NO DISCUSSIONS ARE TAKING PLACE WITH GLENCORE
COALspot.com: The board of Rio Tinto notes the recent press speculation regarding a possible combination of Rio Tinto and Glencore.The Rio Tinto bo ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
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