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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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Tuesday, 16 September 14
INDONESIAN GOVERNMENT DECLARED HBA SUFFERED ANOTHER SETBACK IN SEPTEMBER
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in September. HBA for ...
Tuesday, 16 September 14
INDONESIAN COAL OUTPUT WON'T EXCEED 421M TONS: GOVT - JP
The government is optimistic that it will meet its coal production target for this year, which caps nationwide production at a flat number compared ...
Monday, 15 September 14
CHINA'S COAL PROPOSALS LEAVE SOME HOPE FOR EXPORTERS - DAILY NEWS
When the best thing you can say about new policies is that they aren’t as bad as they could have been, then you know your industry is in deep ...
Monday, 15 September 14
SUB-BIT FOB INDONESIA COAL SWAP, JANUARY 2015 DELIVERY GAINED DAY ON DAY AND WEEK ON WEEK
COALspot.com: Indonesian coal swaps for average October 2014 increased US$ 0.40 (+0.78%) day on day and US$ 0.55 (+1.08%) per mt week on week. The ...
Monday, 15 September 14
CFR SOUTH CHINA COAL SWAP GAINED DAY ON DAY AND WEEK ON WEEK
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 2.30 (-3.36%) month over month, but increased day on day a ...
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- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Planning Commission, India
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
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- Petron Corporation, Philippines
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- The University of Queensland
- MS Steel International - UAE
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Australian Coal Association
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
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