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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, 25 September 14
LACK OF COAL BUSINESS PUSHING DOWN PANAMAX EARNINGS IN PACIFIC
Handy
In the Atlantic we see rates steady climbing upwards. More coal cargoes out of USG and USEC are helping the TA market which is up some USD ...
Wednesday, 24 September 14
ADARO AGREED TO REDUCE ITS CONCESSION AREA TO 31,379.8 HECTARES
COALspot.com: PT Adaro Energy Tbk (Adaro Energy) today announced that, PT Adaro Indonesia (AI), its wholly owned subsidiary, entered into a M ...
Wednesday, 24 September 14
CAPESIZE: ACTIVITY IN BOTH BASINS WAS UNIMPRESSIVE
COALspot.com: The end of the week prior seems to have marked the tone for the days that followed, with the Dry Bulk market giving up a significant ...
Tuesday, 23 September 14
MEDCO TO INCREASE ITS COAL PRODUCTION NEXT YEAR
COALspot.com: PT Medco Energi Internasional is looking to increase its coal production next year, supported by the launch of operations at its Duta ...
Monday, 22 September 14
COAL SECTOR CHAOS - GENESIS TO REVELATION - DIPESH DIPU
COALspot.com: “Let there be light”, intends the government of India but the fuel side of the story paints a blackout. The recent Suprem ...
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- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Minerals Council of Australia
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
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