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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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Thursday, 14 April 16
AUSTRALIAN MINING SERVICES SECTOR SQUEEZED BY MINERS' COST CUTS - FITCH RATINGS
Fitch Ratings says mining services companies' revenues and margins will remain under pressure as miners continue to focus on reducing costs ami ...
Thursday, 14 April 16
DRY BULKERS' PRICES COULD BE HEADING UPWARDS AS BUYERS' APPETITE INCREASES - HELLENIC SHIPPING NEWS
Investment sentiment is beginning to trend upwards in the market for second hand dry bulk carriers. According to the latest weekly report from ship ...
Wednesday, 13 April 16
U.S COAL PRODUCTION IS EXPECTED TO DECREASE BY 16 PER CENT IN 2016; THE LARGEST ANNUAL PERCENTAGE DECLINE SINCE 1958 - EIA
EIA estimates that U.S. coal production in March 2016 was 52 million short tons (MMst), a 2 MMst (4%) decrease from the previous month and 29 MMst ...
Tuesday, 12 April 16
INDONESIA COAL BENCHMARK PRICE INCREASES FOR SECOND STRAIGHT MONTH
COALspot.com: The Indonesia Coal Benchmark Price Increases For Second Straight Month in April 2016.
The Director General of Mine ...
Tuesday, 12 April 16
NO FURTHER SIGNIFICANT COAL PRICE DECLINES IN THE FUTURE - FITCH
COALspot.com: Fitch does not expect further significant coal price declines because producers sector-wide are suffering losses while China and Indo ...
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- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
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