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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, 05 August 16
CAPESIZE : RATES ARE REMAINING AT DEPRESSING LEVELS DUE TO LACK OF FRESH CARGOES - FEARNLEYS
Supramax
Last week has been one of the slowest for some time with rates under pressure in most areas.
In its latest weekly report, shipbroke ...
Thursday, 04 August 16
INDONESIAN COAL PRICES ARE STARTING TO ZOOM HIGHER; HBA ROSE 10.13% TO US$ 58.37 PER TON
COALspot.com: The Indonesia coal benchmark price hits to its highest level since August 2015.
The Director General of Mineral and Coa ...
Thursday, 04 August 16
BREXIT: IMPLICATIONS FOR GLOBAL SHIPPING AND SEA TRADE - EVERSHEDS
The buzzword for the post-Brexit landscape both in Europe and further afield is ‘uncertainty’. No-one really knows the long term effect ...
Wednesday, 03 August 16
RECAAP INFORMATION SHARING CENTRE ISSUES SPECIAL REPORT ON THE ABDUCTING OF CREW FROM SHIPS IN WATERS OFF EASTERN SABAH AND SOUTHERN PHILIPPINES - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
In the light of three incidents where the crew of tug boats were abducted in the waters off Eastern Sabah and Southern Ph ...
Wednesday, 03 August 16
SHIPPING MARKET INSIGHT - EVA TZIMA
The Good…
Demand. Amidst all the unprecedented geopolitical turmoil and shifts in the likes of Brexit, the IMF lowered last month its glob ...
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- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- The University of Queensland
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- PTC India Limited - India
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
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