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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, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
Friday, 28 June 24
INDIA'S CY23 COAL USE LARGER THAN NORTH AMERICA, EUROPE COMBINED - THE HINDU
For the first time, India’s coal consumption surpassed that of North America and Europe combined in the calendar year 2023, said Energy Insti ...
Monday, 24 June 24
PLN'S FINANCIAL SUSTAINABILITY RESTS ON ACCELERATED COAL RETIREMENT AND RENEWABLES DEPLOYMENT - MUTYA YUSTIKA
On 28 May 2024, Indonesia’s national electricity utility, PT Perusahaan Listrik Negara (PLN), released its financial report for 2023. Althoug ...
Monday, 24 June 24
INDIA'S COAL-BASED POWER DEMAND AT ALL-TIME HIGH, GOVERNMENT SAYS - REUTERS
India’s demand for coal-based power has risen by 7.3% this fiscal year to an all-time high, the government said in a statement on Wednesday.
...
Monday, 24 June 24
CHINA'S COAL INDUSTRY TURNS GREENER THROUGH INNOVATIVE APPROACHES - PEOPLE'S DAILY
At an opencast mine operated by Inner Mongolia Pingzhuang Coal Group Co. Ltd., a subsidiary of CHN Energy Investment Group (CHN Energy), a 14-meter ...
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- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Planning Commission, India
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- The University of Queensland
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Australian Coal Association
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
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