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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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- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
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- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
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- Wilmar Investment Holdings
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- International Coal Ventures Pvt Ltd - India
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- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- White Energy Company Limited
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- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
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- Orica Mining Services - Indonesia
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- Aditya Birla Group - India
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- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
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- Independent Power Producers Association of India
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- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Mjunction Services Limited - India
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- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
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- Electricity Authority, New Zealand
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- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
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- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
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- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
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- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- The University of Queensland
- Parry Sugars Refinery, India
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- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- MS Steel International - UAE
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
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- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Thai Mozambique Logistica
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- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
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- Pipit Mutiara Jaya. PT, Indonesia
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