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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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Tuesday, 13 February 24
WHAT IS THE OUTLOOK FOR THE NATURAL GAS SPOT PRICE IN 2024 AND 2025? EIA
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per m ...
Monday, 12 February 24
US THERMAL COAL EXPORTS HIT 5-YEAR HIGHS AND TOP $5 BLN IN 2023 - REUTERS
United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-poll ...
Tuesday, 06 February 24
NEW E-FUELS PROJECT TO MAKE INTERNATIONAL SHIPPING CLIMATE-NEUTRAL - RINA
Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where compani ...
Tuesday, 06 February 24
INDIA SEES ANNUAL COAL OUTPUT UP 10.9% IN 2024/25 - REUTERS
India expects domestic coal output to increase by 10.9% to 1.13 billion metric tons in the fiscal year ending March 2025, a senior government offic ...
Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
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- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- The University of Queensland
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Siam City Cement - Thailand
- Bhatia International Limited - India
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Indika Energy - Indonesia
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
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