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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, 24 August 14
SEA FREIGHT MARKETS STARTING TO LOOK POSITIVE; CAPES DRIVE FREIGHTS HIGHER
COALspot.com: The freight market has strengthen further this week with BDI up 7.19 pct week on week. The BDI was closed at 1,088 points while the B ...
Friday, 22 August 14
INDIAN IRON ORE ROYALTY RISE NOT LIKELY TO HURT STEELMAKERS' MARGINS - FITCH
Fitch Ratings does not expect an increase in India's iron ore royalty rates to have a major impact on the profitability of steel producers in t ...
Friday, 22 August 14
ARBITRATION CLAUSE IN LOU HELD TO REPLACE CHARTERPARTY ARBITRATION CLAUSE
KNOWLEDGE TO ELEVATE
The Claimants had claims for cargo damage against the vessel Owners arising under four bills of lading. The vessel was th ...
Friday, 22 August 14
ICAP ENERGY LAUNCHES GLOBAL COKING COAL DERIVATIVES TRADING
First contract completed and cleared on CME
COALspot.com: ICAP Energy, the energy business of ICAP plc, announces today that it has successful ...
Friday, 22 August 14
U.S WEEKLY COAL PRODUCTION UP 2.4% WEEK OVER WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.60 million short tons (mmst) of coal in ...
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- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- VISA Power Limited - India
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Deloitte Consulting - India
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- London Commodity Brokers - England
- Dalmia Cement Bharat India
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