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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, 30 August 14
RECOVERY IN SIGHT FOR THE DRY BULK SHIPPING MARKET - DREWRY SHIPPING CONSULTANTS
Despite weak freight rates so far this year, Dry Bulk shipping earnings are forecast to recover as demand for both major and minor bulk commodities ...
Friday, 29 August 14
U.S. WEEKLY COAL PRODUCTION DROPS 1.3 PERCENT, EIA SAYS
COALspot.com – United States the world's second largest coal producer, produced approximately 19.40 million short tons (mmst) of coal in ...
Friday, 29 August 14
ADARO'S PROFITS SINK FURTHER AMID FALL IN COAL PRICES - JP
Adaro Energy, one of the country’s largest coal miners, has reported a 31 percent drop in net profit in the first half of this year as global ...
Friday, 29 August 14
CHINESE LIGNITE IMPORTS: QUANTITY OVER QUALITY? - CLARKSONS
In the first half of 2014, Chinese seaborne coal imports declined 0.4% y-o-y to 148mt, largely reflecting a 3.3% fall in imports of steam coal. Mea ...
Thursday, 28 August 14
PANAMAX: OWNERS CAN GET AROUND USD 16000 FOR A FRONTHAUL; PERIOD MARKET - VERY QUIET - FEARNLEYS
Handy
The activity and sentiment is improving in the Atlantic with the general TA rate is up about US$ 800 w-o-w. We see more South American carg ...
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- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Bhatia International Limited - India
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Planning Commission, India
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- PTC India Limited - India
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- VISA Power Limited - India
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