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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, 07 March 16
FREIGHT MARKET MOVING POSITIVE; ALL SEGMENTS EXCEPT CAPE SHOWING A FIRM TREND
COALspot.com: The freight market was steady this past week and showing a firm trend for all segments except for Cape index.
The Baltic Dry Ind ...
Friday, 04 March 16
GLOBAL ECONOMY'S JITTERS ARE SLOWING DOWN SHIPPING EVEN FURTHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The global economy’s shaky condition to say the least is now hampering growth and as a result demand for shipping is slowing down, something ...
Friday, 04 March 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 109.3 MMST; 30.2% LOWER THAN THE COMPARABLE YEAR-TO-DATE COAL PRODUCTION IN 2015 - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.1 million shor ...
Thursday, 03 March 16
INDIA'S BUDGET NOT ENOUGH TO BOOST STEELMAKERS' PROFITABILITY - FITCH RATINGS
COALspot.com: Fitch Ratings says that increase in proposed infrastructure spending in India's latest government budget is unlikely to provide a ...
Thursday, 03 March 16
BDI FURTHER STRENGTHENING; THE INCREASE IN RATES WAS NOT SUBSTANTIAL
COALspot.com: The BDI closed off on a positive note for a second week in a row, further strengthening the belief that the market might be bottoming ...
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- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- White Energy Company Limited
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
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