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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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Friday, 02 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more ...
Friday, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
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- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Planning Commission, India
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Parliament of New Zealand
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Deloitte Consulting - India
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
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