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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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Tuesday, 07 June 16
CS COAL INDEX ROSE FOR SECOND STRAIGHT WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.38 percent week over week to averaging $39.16 per ton this past week, shows ...
Monday, 06 June 16
BDI GAINED ON A STRONGER DEMAND FOR CAPESIZE SHIPS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week on a stronger demand for Capesize ves ...
Friday, 03 June 16
DRY BULK VESSEL DELIVERIES COULD BE LESS THAN 50 MILLION DWT IN 2016, AS OWNERS DELAY OR CANCEL NEWBUILDING ORDERS
The dry bulk market has been caught between a rock and a hard place over the course of the past couple of years, as on one hand demand has plunged, ...
Friday, 03 June 16
U.S WEEKLY COAL PRODUCTION SLIDES 1.3% - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.5 million short tons (mm ...
Wednesday, 01 June 16
INDIA'S COAL IMPORTS IN APRIL 2016 DECLINED 15% Y/Y; COAL INDIA INCREASED COAL PRICES BY 6.2%
Coal India has approved raising weighted average coal prices by 6.2 per cent over the current price for both regulated and non-regulated sectors.
...
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- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
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- Lanco Infratech Ltd - India
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- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
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- Barasentosa Lestari - Indonesia
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- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- White Energy Company Limited
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Planning Commission, India
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
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