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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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Wednesday, 31 January 24
CHINA'S INNER MONGOLIA COAL OUTPUT HIT 1.21B TONS IN 2023 - XINHUA
North China’s Inner Mongolia autonomous region churned out 1.21 billion tons of coal in 2023 as it strives to guarantee the country’s e ...
Wednesday, 31 January 24
GAS EXPORTS COST U.S. CONSUMERS MORE THAN $100 BILLION OVER 16-MONTH PERIOD - IEEFA
Limited Demand Growth Could Dampen the Dry Bulk Market in the Coming Months BIMCOStarting in late 2021—before its invasion of Ukraine—R ...
Tuesday, 30 January 24
LIMITED DEMAND GROWTH COULD DAMPEN THE DRY BULK MARKET IN THE COMING MONTHS - BIMCO
Demand
In our base scenario, we expect cargo demand to grow by 0-1% in 2024 and 0.5-1.5% in 2025. This is a 0.5 percentage point reduction for ...
Friday, 26 January 24
RED SEA DIVERSIONS ADD NEARLY A MILLION DOLLARS PER VOYAGE TO SHIPPING COSTS WHILE DOUBLING TRANSIT TIME - LSEG
The incremental costs of diverting a tanker from Asia to NW Europe via the Cape of Good Hope is accounting for an extra $932,905 USD per voyage whi ...
Friday, 26 January 24
HARD COAL GUARDIAN ANGEL OF THE ENERGY SUPPLY - GERMANY COAL IMPORTERS ASSOCIATION
- No security of supply without hard coal
- The Substitute Power Plant Provision Act (EKBG) must be extended
- Higher grid fees due to the ...
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- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- PTC India Limited - India
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
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