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Wednesday, 08 June 16
BPI ACHIEVES FINANCIAL CLOSE FOR ITS 2000 MW POWER PROJECT IN CENTRAL JAVA
 COALspot.com: PT Bhimasena Power Indonesia (BPI) on June 6th, 2016 Achieves financial close for its 2x1,000 MW power project in Batang Regency, Central Java. BPI is owned by a consortium of Electric Power Development Co., Ltd. (J-Power) – PT Adaro Power (AP) – Itochu Corporation (Itochu).
President Director of PT Adaro Energy Tbk (AE), Mr Garibaldi Thohir, remarked “We are pleased to achieve this significant milestone. Despite the delay, we are thankful for the support from PLN, all sponsors, lenders, government institutions and other stakeholders. We expect that the process will move forward as planned, and we are excited as we are now closer to our vision to be a leading Indonesian mining and energy group and establishing one of our engines of growth.”
According to PT Adaro Energy Tbk's disclosure to the Indonesia Stock Exchange and the OJK, total investment for this project cost is around US$ 4.2 billion, and BPI will receive project funding of approximately US$3.4 billion from the Japan Bank for International Cooperation (JBIC) and a syndication of nine commercial banks: SMBC, BTMU, Mizuho, DBS, OCBC, Sumitomo Trust, Mitsubishi Trust, Shinsei and Norinchukin.
According to PT Adaro Energy, this project will sell electricity to PT Perusahaan Listrik Negara (Persero) (PLN) under a power purchase agreement (PPA) for 25 years from the completion of construction, the PPA between BPI and PLN was signed on October 6th, 2011.
The Government of Indonesia through the Ministry of Finance, the Indonesia Infrastructure Guarantee Fund (IIGF) and BPI have signed an agreement to guarantee the payment from PLN to BPI as stipulated in the PPA. IIGF is an institution established by the Government of Indonesia to provide guarantee for government institutions participating in public private partnership (PPP). This project is Indonesia’s first PPP project to receive IIGF’s guarantee.
President Director of BPI, Mr Mohammad Effendi, said “After the financial close, construction of the power plant should immediately begin. Construction is estimated to take approximately four year and COD is expected in 2020.”
This power plant will be one of the largest IPP in Asia and is the first coal-fired power plant project to use the environmentally friendly ultra-supercritical (USC) technology in Indonesia. The USC uses steam temperatures and pressures above the supercritical point of water which allows lower fuel consumption per kilowatt hour (KwH) and reduce specific CO2 emissions.
The disclosure further noted that, this project has been delayed for several years due to difficulties related to land acquisition. Early this year, through the implementation of Law No.2/2012 regarding Land Procurement for Development in the Public Interest, BPI and PLN had been able to secure all the required land and this has made BPI the first Independent Power Producer (IPP) to have successfully implemented Law No.2/2012.
Despite the delay, all partners remain committed to the project and all the stakeholders involved including the government of Indonesia, PLN and the creditors remain committed to the project from the beginning. The Engineering, Procurement and Construction (EPC) contractors selected for this project are Mitsubishi Hitachi Power Systems, Ltd for the offshore portion and Sumitomo Corporation for the onshore portion.
Operation & Maintenance of the power plant will be conducted by BPI. From the beginning of construction and throughout its operation, BPI will contribute significantly to the social and economic development of Indonesia, particularly the Batang Regency and Central Java region, through job creation and numerous social development programs to create shared value between BPI and the community. One example, in order to overcome the impact of land acquisition, BPI has given social compensation to affected farmers and prepared replacement land to solve the changes in livelihood method. BPI has also carried out several community development programs and will continue to improve its programs for the development of a self sustaining society.
 About PT Bhimasena Power Indonesia
PT Bhimasena Power Indonesia (BPI) is a consortium of Electric Power Development Co., Ltd. (J-Power) (34%), PT Adaro Power (34%) and Itochu Corporation (Itochu) (32%). PT Adaro Power is a wholly-owned subsidiary of PT Adaro Energy Tbk.
The 2x1,000 MW power plant is located in Batang Regency, Central Java. It is the first infrastructure project under the public private partnership (PPP) structure and will apply the Build, Own, Operate, Transfer (BOOT) scheme. This project is part of the Master Plan for Acceleration and Expansion of Indonesia Economic Development and will lead economic development in Java. The 2x1000 MW power plant is also part of the 35,000MW program inaugurated by President Joko Widodo, a national strategic plan to meet Indonesia’s growing electricity demand. This project will use the more efficient and environmentally-friendly Ultra-Super Critical technology.
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Wednesday, 15 June 16
THE DRY BULK PRICES CORRECTED UPWARDS ROUGHLY 15% - KONSTANTINOS KONTOMICHIS
Once more, the international shipping community turned its attention to Greece and more specifically to Attica that hosted Posidonia, the biggest m ...
Tuesday, 14 June 16
CS COAL INDICES ROSE UP FOR A THIRD STRAIGHT WEEK; 4200 GAR COAL UP 0.73%
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.54 percent week over week to averaging $39.37 per ton this past week, shows ...
Monday, 13 June 16
DEMAND FOR DRY BULK COMMODITIES COULD PROVIDE FUTURE BOOST FOR SHIP OWNERS - HELLENIC SHIPPING NEWS
When it comes to the dry bulk market, shipowners these days are looking for news in any shape or form they can find them. However, as the discussio ...
Monday, 13 June 16
ONSHORE SHALE: WORTH KEEPING IN THE SHIPPING SPOTLIGHT CLARKSONS
Generally, shipping industry watchers spend much of their time monitoring events out to sea: how fleets are evolving, trade volumes growing and fre ...
Monday, 13 June 16
PORT OF NEWCASTLE SHIPPED 5.03% MORE COAL IN MAY; AVERAGE SELLING PRICE DECLINED 2.08% FROM APRIL
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1.162bill ...
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- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- The University of Queensland
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Ministry of Mines - Canada
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