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Wednesday, 08 June 16
BPI ACHIEVES FINANCIAL CLOSE FOR ITS 2000 MW POWER PROJECT IN CENTRAL JAVA
 COALspot.com: PT Bhimasena Power Indonesia (BPI) on June 6th, 2016 Achieves financial close for its 2x1,000 MW power project in Batang Regency, Central Java. BPI is owned by a consortium of Electric Power Development Co., Ltd. (J-Power) – PT Adaro Power (AP) – Itochu Corporation (Itochu).
President Director of PT Adaro Energy Tbk (AE), Mr Garibaldi Thohir, remarked “We are pleased to achieve this significant milestone. Despite the delay, we are thankful for the support from PLN, all sponsors, lenders, government institutions and other stakeholders. We expect that the process will move forward as planned, and we are excited as we are now closer to our vision to be a leading Indonesian mining and energy group and establishing one of our engines of growth.”
According to PT Adaro Energy Tbk's disclosure to the Indonesia Stock Exchange and the OJK, total investment for this project cost is around US$ 4.2 billion, and BPI will receive project funding of approximately US$3.4 billion from the Japan Bank for International Cooperation (JBIC) and a syndication of nine commercial banks: SMBC, BTMU, Mizuho, DBS, OCBC, Sumitomo Trust, Mitsubishi Trust, Shinsei and Norinchukin.
According to PT Adaro Energy, this project will sell electricity to PT Perusahaan Listrik Negara (Persero) (PLN) under a power purchase agreement (PPA) for 25 years from the completion of construction, the PPA between BPI and PLN was signed on October 6th, 2011.
The Government of Indonesia through the Ministry of Finance, the Indonesia Infrastructure Guarantee Fund (IIGF) and BPI have signed an agreement to guarantee the payment from PLN to BPI as stipulated in the PPA. IIGF is an institution established by the Government of Indonesia to provide guarantee for government institutions participating in public private partnership (PPP). This project is Indonesia’s first PPP project to receive IIGF’s guarantee.
President Director of BPI, Mr Mohammad Effendi, said “After the financial close, construction of the power plant should immediately begin. Construction is estimated to take approximately four year and COD is expected in 2020.”
This power plant will be one of the largest IPP in Asia and is the first coal-fired power plant project to use the environmentally friendly ultra-supercritical (USC) technology in Indonesia. The USC uses steam temperatures and pressures above the supercritical point of water which allows lower fuel consumption per kilowatt hour (KwH) and reduce specific CO2 emissions.
The disclosure further noted that, this project has been delayed for several years due to difficulties related to land acquisition. Early this year, through the implementation of Law No.2/2012 regarding Land Procurement for Development in the Public Interest, BPI and PLN had been able to secure all the required land and this has made BPI the first Independent Power Producer (IPP) to have successfully implemented Law No.2/2012.
Despite the delay, all partners remain committed to the project and all the stakeholders involved including the government of Indonesia, PLN and the creditors remain committed to the project from the beginning. The Engineering, Procurement and Construction (EPC) contractors selected for this project are Mitsubishi Hitachi Power Systems, Ltd for the offshore portion and Sumitomo Corporation for the onshore portion.
Operation & Maintenance of the power plant will be conducted by BPI. From the beginning of construction and throughout its operation, BPI will contribute significantly to the social and economic development of Indonesia, particularly the Batang Regency and Central Java region, through job creation and numerous social development programs to create shared value between BPI and the community. One example, in order to overcome the impact of land acquisition, BPI has given social compensation to affected farmers and prepared replacement land to solve the changes in livelihood method. BPI has also carried out several community development programs and will continue to improve its programs for the development of a self sustaining society.
 About PT Bhimasena Power Indonesia
PT Bhimasena Power Indonesia (BPI) is a consortium of Electric Power Development Co., Ltd. (J-Power) (34%), PT Adaro Power (34%) and Itochu Corporation (Itochu) (32%). PT Adaro Power is a wholly-owned subsidiary of PT Adaro Energy Tbk.
The 2x1,000 MW power plant is located in Batang Regency, Central Java. It is the first infrastructure project under the public private partnership (PPP) structure and will apply the Build, Own, Operate, Transfer (BOOT) scheme. This project is part of the Master Plan for Acceleration and Expansion of Indonesia Economic Development and will lead economic development in Java. The 2x1000 MW power plant is also part of the 35,000MW program inaugurated by President Joko Widodo, a national strategic plan to meet Indonesia’s growing electricity demand. This project will use the more efficient and environmentally-friendly Ultra-Super Critical technology.
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Friday, 18 November 16
U.S. WEEKLY COAL PRODUCTION TOTALS 16.8 MMST, DOWN 0.8%, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.8 million short ton ...
Thursday, 17 November 16
FROTHY THERMAL COAL PRICES POINT TO DOWNSIDE PRESSURES IN 2017 - FITCH
Fitch Ratings says in an Outlook Report that the Asian thermal coal industry will remain under pressure in 2017 due to more-than-adequate capacity ...
Thursday, 17 November 16
CHINA STEEL EXPORTS TO REMAIN HIGH IN 2017, FITCH SAYS
Fitch Ratings expects Chinese steel exports to remain at around 100 million metric tons (Mt) in 2017, due to flat 'apparent' consumption an ...
Wednesday, 16 November 16
SHIPPING MARKET INSIGHT
Going through a relatively interesting second half of the year so far in the ship repair sector, we are experiencing a volatile climate of differen ...
Tuesday, 15 November 16
CHINA, FOR MANY YEARS NOW HAS SERVED AS A MAJOR GROWTH ENGINE FOR ASIA - ALLIED SHIPPING RESEARCH
It’s been a turbulent couple of days after the announcement of the U.S. Presidential results in the early hours of Wednesday.
After week ...
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- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- The University of Queensland
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Economic Council, Georgia
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
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