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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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Wednesday, 24 August 16
DRY BULK VESSELS FACE CONTINUED DISTRESS - CLEAR ASSET
Dry bulk vessels have faced extreme distress in recent years. With a combination of factors including newer vessels being ordered with up to 5-year ...
Tuesday, 23 August 16
4200 GAR COAL INDEX CLIMB 15.96% YEAR TO DATE - CS COAL INDEX
COALspot.com: Average 4200 GAR coal index of Indonesian origin rose 1.65 % week over week to averaging $31.46 per ton this past week, shows CS (i) ...
Tuesday, 23 August 16
KOMIPO TO IMPORT 250K OF 5,700 KCAL/KG NAR COAL FOR Q4' 16
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for total 250,000 Metric Tons of Bituminous Coal for ...
Monday, 22 August 16
INDONESIA'S CS 5000 GAR THERMAL COAL INDEX, ROSE TO A 57-WEEKS HIGH TO TOP $43.47 A TON
COALspot.com: Indonesia’s CS 5000 GAR thermal coal index, rose to a 57-weeks high to top $US43. 47 a ton in the latest week, extending a 18-w ...
Monday, 22 August 16
THE FREIGHT MARKET WAS STEADY THIS PAST WEEK; CAPE INDEX DECLINE 5.38%
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week except ...
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- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
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