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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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- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
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- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
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- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Minerals Council of Australia
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
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