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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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Monday, 24 June 24
PHILIPPINES COAL SUPPLY ENOUGH UNTIL 2030 - PHILSTAR GLOBAL
The country’s existing coal-fired power plants are sufficient to ensure enough base load capacity in the next six years, Energy Secretary Rap ...
Friday, 14 June 24
NEXTDECADE, SAUDI ARAMCO SIGN 20-YEAR LNG SUPPLY DEAL - REUTERS
U.S. liquefied natural gas (LNG) provider NextDecade has signed a non-binding agreement with Saudi Aramco 2222.SE to supply 1.2 million tonnes per ...
Friday, 14 June 24
NEWBUILDING PRICES CLIMB 3% TO HIGHEST LEVEL IN 16 YEARS - NIELS RASMUSSEN
“Since the start of the year, newbuilding prices have risen 3% to their highest level since 2008. Compared to their most recent low in late 2 ...
Friday, 14 June 24
INDIA TARGETS HIGHER DOMESTIC COAL PRODUCTION, REDUCED IMPORTS: GOVT - REUTERS
India wants to reduce coal imports and increase domestic production, federal coal minister G. Kishan Reddy said on Thursday.
The cou ...
Thursday, 13 June 24
US LNG TO ASIA FOR POWER GENERATION EXPECTED TO CUT EMISSIONS VERSUS COAL - RYSTAD ENERGY
The value-chain emissions of liquified natural gas (LNG) are lower on average than for coal-fired power generation, even when the fuel is shipp ...
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- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
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