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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, 25 September 14
LACK OF COAL BUSINESS PUSHING DOWN PANAMAX EARNINGS IN PACIFIC
Handy
In the Atlantic we see rates steady climbing upwards. More coal cargoes out of USG and USEC are helping the TA market which is up some USD ...
Wednesday, 24 September 14
ADARO AGREED TO REDUCE ITS CONCESSION AREA TO 31,379.8 HECTARES
COALspot.com: PT Adaro Energy Tbk (Adaro Energy) today announced that, PT Adaro Indonesia (AI), its wholly owned subsidiary, entered into a M ...
Wednesday, 24 September 14
CAPESIZE: ACTIVITY IN BOTH BASINS WAS UNIMPRESSIVE
COALspot.com: The end of the week prior seems to have marked the tone for the days that followed, with the Dry Bulk market giving up a significant ...
Tuesday, 23 September 14
MEDCO TO INCREASE ITS COAL PRODUCTION NEXT YEAR
COALspot.com: PT Medco Energi Internasional is looking to increase its coal production next year, supported by the launch of operations at its Duta ...
Monday, 22 September 14
COAL SECTOR CHAOS - GENESIS TO REVELATION - DIPESH DIPU
COALspot.com: “Let there be light”, intends the government of India but the fuel side of the story paints a blackout. The recent Suprem ...
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- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- The University of Queensland
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
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