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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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Wednesday, 13 August 14
WEEKLY MARKET INSIGHT - KONSTANTINOS KONTOMICHIS SNP BROKER
Being at the peak of the holiday season, August is, as usual, the quietest month in terms of snp transactions, yet it is also a time very critical ...
Wednesday, 13 August 14
WHAT DOES PROJECT CARGO REALLY MEAN TO INSURERS?
KNOWLEDGE TO ELEVATE
Richard Kamppari-Baker, claims manager of FP Marine Risks, explains the challenges of project cargo risk assessment from ...
Wednesday, 13 August 14
INDONESIAN COAL PRICE REFERENCE FALL AGAIN CLOSE TO 57 MONTHS LOWS
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price in August. HBA for the month of A ...
Monday, 11 August 14
LARGEST CHINESE TRADE SURPLUS EVER RECORDED IN JULY - BIMCO
China recorded a trade surplus of USD 47.3 billion in July 2014. The record high surplus came on the back of very strong export growth while import ...
Monday, 11 August 14
INDONESIAN THERMAL COAL SWAPS SEEING SOME POSITIVE TREND
COALspot.com: Indonesian coal swaps for average September 2014 increased US$ 0.20 (+0.36%) day on day and US$ 1.30 (+2.41%) per mt week on week. Th ...
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- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
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