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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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Friday, 08 August 14
U.S PRODUCED 35.80 MMST OF COAL IN JULY; UP 7.89 MONTH OVER MONTH
COALspot.com – United States the world's second largest coal producer, produced approximately 19.50 million short tons (mmst) of coal in ...
Friday, 08 August 14
PORT OF NEWCASTLE SHIPPED 19.52% MORE COAL IN JULY FROM LAST MONTH
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped 14,036,947 t ...
Thursday, 07 August 14
SHORT-TERM COAL OUTLOOK IMPROVES - SAM QUEST
With demand for and supply of coal to grow in the near future, prices are expected to rebound in the short term; the long-term prospects, however, ...
Thursday, 07 August 14
BULKING UP IN AFRICA: CHINA INFLATES SEABORNE MINERALS EXPORT TRADE - RICHARD SCOTT
Africa’s profile as an exporter of dry bulk commodities is rising. Responding to growing import demand from China, India and other buyers in ...
Wednesday, 06 August 14
CAPES: BUSINESS INTEREST REMAINS SOFT; CURRENTLY NO SIGNS OF IMPROVEMENT - INTERMODAL
COALspot.com: Despite the considerable pressure witnessed in the freight market for most of the size segments, the Dry Bulk Index was able to note ...
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- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Australian Coal Association
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
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