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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, 28 August 14
BANPU REPORTS HIGHER FIRST-HALF YEAR RESULTS FOR 2014
COALspot.com: Banpu Public Company Limited (BANPU) reports higher first half-year financial results for 2014 having its gross profit increasing 3 p ...
Wednesday, 27 August 14
FREIGHT MARKET: IS THE MARKET IN A RECOVERY MOOD? - GEORGE ILIOPOULOS
Is the market in a recovery mood?
August is typically a time when the shipping industry takes it easy… charter-ers book their requireme ...
Tuesday, 26 August 14
4TH ANNUAL ASIA NICKEL
4th Annual Asia Nickel
19-20 Nov 2014
Grand Hyatt Jakarta, Indonesia
Web Site
Asia’s Premier Nickel Conference
Regulation in ...
Tuesday, 26 August 14
DESPITE LOW DRY BULK RATES, BULKER PRICES ARE STILL HIGH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Traditionally, August tends to be a month of slow activity in the sale and purchasing market and this year has been no exception. However, as shipb ...
Tuesday, 26 August 14
GOVT ON TRACK TO LIMIT COAL OUTPUT - THE JAKARTA POST
The government has announced that it will proceed with plans to cap the production of coal next year, a move aimed not only at protecting the envir ...
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- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- VISA Power Limited - India
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- PTC India Limited - India
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Eastern Coal Council - USA
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
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