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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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Monday, 13 June 16
BALTIC INDEX FLAT, INDEX FOR CAPE RISE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities flat this past week. The freight market was almost same l ...
Friday, 10 June 16
INDONESIAN 6322 GAR COAL PRICE REFERENCE RISES TO $51.81 A TON
COALspot.com: The Indonesia Coal Benchmark Price increased in June 2016.
The Director General of Mineral and Coal of Indonesia, the regulator ...
Friday, 10 June 16
WEEKLY U.S. COAL PRODUCTION TOTALED AN ESTIMATED 12 MMST IN THE WEEK ENDED JUNE 4, UP 4% W/W - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 12 million short tons (mmst ...
Wednesday, 08 June 16
U.S COAL IMPORTS ARE PROJECTED TO BE 12 MMST IN 2016 AND 11 MMST IN 2017 - EIA
Coal Supply
U.S. coal production in May was 50 million short tons (MMst), a 4 MMst (10%) increase from the previous month but 19 MMst (28%) lower ...
Wednesday, 08 June 16
THE DRY BULK MARKET KEPT MOVING SIDEWAYS LAST WEEK; SECOND HAND PURCHASES MOVING NORTH - INTERMODAL
Once again its Posidonia time and the biannual exhibition takes place during a very warm June here in Athens, as if the performance of the dry bulk ...
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- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Romanian Commodities Exchange
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- Wood Mackenzie - Singapore
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- Lanco Infratech Ltd - India
- Central Electricity Authority - India
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- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
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- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Economic Council, Georgia
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
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