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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, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
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- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Marubeni Corporation - India
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Minerals Council of Australia
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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