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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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Thursday, 02 October 14
CAPESIZE - DULL AND WITHOUT MUCH DIRECTION AS IRON ORE AND COAL VOLUMES FAIL TO LIVE UP EXPECTATIONS
Handy
After the recent weeks´ rate increase in the Atlantic we see Panamaxes snapping up handymax and Supra cargoes at much lower levels, p ...
Wednesday, 01 October 14
ASIAN THERMAL COAL PRICES TO REMAIN WEAK ON OVERSUPPLY - FITCH
COALspot.com: The thermal coal market in Asia will remain oversupplied in the next 12 months, in spite of on-going rationalisation of production, a ...
Wednesday, 01 October 14
PANAMAXES: DEFENSIVE, STRUGGLING TO KEEP ANY FURTHER DECREASES - INTERMODAL
COALspot.com: The Dry Bulk market seemed unable to shake off the trend of the week prior and the BDI remained on a downward slope for the bigger pa ...
Wednesday, 01 October 14
FITCH: GLOBAL ECONOMY FACES MULTI-SPEED RECOVERY, MULTIPLE RISKS
Fitch Ratings says in its latest Global Economic Outlook (GEO) that global growth will pick up in 2015 and 2016, but risks are weighted to the down ...
Tuesday, 30 September 14
COALVIEW TO PARTICIPATE AT MET COKE WORLD SUMMIT 2014 IN CHICAGO
COALspot.com: Coalview Ltd., LLC(“Coalview”) America's leading fully integrated coal technology and fine coal recovery company prov ...
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- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
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- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Minerals Council of Australia
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Planning Commission, India
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
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