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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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Saturday, 27 September 14
OIL MARKET CONTANGO: SPECULATION ON FUTURE PRICES CAN BE A RISKY MOVE, EVEN FOR TANKER OWNERS HELLENIC SHIPPING NEWS
Despite the fact that tanker owners can easily use their vessels as floating storage units for oil, in a bid to exploit the current oil market dyna ...
Saturday, 27 September 14
MORE COAL MINERS AGREE TO AMEND CONTRACTS - THE JAKARTA POST
The Energy and Mineral Resources Ministry is in a rush to beat a deadline for the conclusion of numerous memorandums of understanding (MoUs) with t ...
Friday, 26 September 14
INDIA SUPREME COURT RULING TO HIT STEEL, UTILITY EARNINGS, SAYS FITCH
COALspot.com: The 24 September Supreme Court of India (SCI) decision to cancel almost every coal block allocation since 1993 will have a negative f ...
Friday, 26 September 14
U.S WEEKLY COAL PRODUCTION FELL 1.8% WEEK OVER WEEK, SAYS EIA
COALspot.com – United States the world's one of largest coal producers, produced approximately 18.80 million short tons (mmst) of c ...
Friday, 26 September 14
NEWCASTLMAXES ARE THE MOST SOUGHT AFTER VESSELS BY SHIP OWNERS TODAY SAYS VESSELS VALUE
KNOWLEDGE TO ELEVATE
Determining a ship’s fair value can be a very tricky business, especially when you’re the one paying. As such ...
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- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- The University of Queensland
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Minerals Council of Australia
- CNBM International Corporation - China
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
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