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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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Sunday, 07 September 14
SHIPMANAGERS SUPERVISION CONTRACT FOR NEWBUILDS - BIMCO
Shipmanagers are frequently called upon by their owner clients to supervise newbuilding projects on their behalf. The scope of the manager’s ...
Saturday, 06 September 14
SLOW COAL EXPORT REGISTRATION RAISES CONCERNS - THE JAKARTA POST
Several coal mining companies have yet to receive the go-ahead from the Energy and Mineral Resources Ministry to obtain exporting licenses, leading ...
Saturday, 06 September 14
DRY BULK MARKET'S PROSPECTS ARE IMPROVING, DESPITE WEAK SECOND QUARTER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been rebounding during the past month, with the Baltic Dry Index (BDI) ended the week on a high note, reaching 1,155 points ...
Saturday, 06 September 14
INDONESIA WANTS TO REGULATE COAL DEALS - THE TELEGRAPH INDIA
Indonesia has raised concerns about suspected coal deals struck between overseas buyers and its unregistered domestic miners, the telegraph India r ...
Friday, 05 September 14
U.S. PRODUCED 19.2 MMST OF COAL LAST WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.20 million short tons (mmst) of coal in ...
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- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Australian Coal Association
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
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