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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, 20 July 16
EDIBLE OIL MARKETS ACROSS THE GLOBE REMAIN UNDER PRESSURE - STELIOS KOLLINTZAS
The edible oil markets across the globe remain under pressure on the back of lackluster demand. Some of the main factors causing the low activity a ...
Tuesday, 19 July 16
INDONESIAN THERMAL COAL INDEXES CONTINUALLY FIRM UP ON ROBUST BUYING INTEREST - CS COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose One percent week over week to averaging $40.38 per ton this past week, shows CS ...
Monday, 18 July 16
FROM PIT TO PORT: DRY BULK NEEDS A NEW PATH TO PROFITABILITY - TOC EUROPE
During the golden years for commodities, from 2005 to 2014, high demand and big profit margins pushed companies to produce more and more, sacrifici ...
Monday, 18 July 16
BALTIC DRY INDEX REMAIN FIRM, UP BY 5.97 WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to remain firm with all segments ending in posi ...
Friday, 15 July 16
US COAL PRODUCTION DOWN 8.4% WEEK-OVER-WEEK
COALspot.com – U.S, world’s second largest coal producers has produced approximately totalled an estimated 12.9 million short tons (mms ...
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- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Central Electricity Authority - India
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- The University of Queensland
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- White Energy Company Limited
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
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