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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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Monday, 13 June 16
BALTIC INDEX FLAT, INDEX FOR CAPE RISE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities flat this past week. The freight market was almost same l ...
Friday, 10 June 16
INDONESIAN 6322 GAR COAL PRICE REFERENCE RISES TO $51.81 A TON
COALspot.com: The Indonesia Coal Benchmark Price increased in June 2016.
The Director General of Mineral and Coal of Indonesia, the regulator ...
Friday, 10 June 16
WEEKLY U.S. COAL PRODUCTION TOTALED AN ESTIMATED 12 MMST IN THE WEEK ENDED JUNE 4, UP 4% W/W - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 12 million short tons (mmst ...
Wednesday, 08 June 16
U.S COAL IMPORTS ARE PROJECTED TO BE 12 MMST IN 2016 AND 11 MMST IN 2017 - EIA
Coal Supply
U.S. coal production in May was 50 million short tons (MMst), a 4 MMst (10%) increase from the previous month but 19 MMst (28%) lower ...
Wednesday, 08 June 16
THE DRY BULK MARKET KEPT MOVING SIDEWAYS LAST WEEK; SECOND HAND PURCHASES MOVING NORTH - INTERMODAL
Once again its Posidonia time and the biannual exhibition takes place during a very warm June here in Athens, as if the performance of the dry bulk ...
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- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
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- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
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- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
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- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
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- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
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- Alfred C Toepfer International GmbH - Germany
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- Anglo American - United Kingdom
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
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- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
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- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Parliament of New Zealand
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- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Planning Commission, India
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- The University of Queensland
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
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