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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, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
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- VISA Power Limited - India
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- White Energy Company Limited
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Australian Coal Association
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
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