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Saturday, 17 September 11
INDIA'S GVK ACQUIRES HANCOCK COAL AND INFRASTRUCTURE PROJECTS IN AUSTRALIA
 COALspot.com - GVK group, India’s leading infrastructure developer, today confirmed arrangements for the acquisition of a strategic part of large, high quality coal resource and infrastructure development project in Queensland, Australia with an intent of furthering its strategic interests in the natural resources and energy sectors.
According to an E-Mail statement received by COALspot.com from the company, GVK Coal Developers (Singapore) Pte Limited (GVKCDPL), a step down subsidiary of GVK Natural Resources Pte Limited (GVKNRPL), (a GVK Group company) in joint venture with GVK Power and Infrastructure Limited (GVKPIL) has entered into various acquisition documents with Hancock Prospecting Pty Limited and certain of its affiliated entities (the Hancock Group) to acquire
► a shareholding up to 79% in the Alpha (‘Tad’s Corner’) and Alpha West (‘Paul’s Corner’) Coal Projects, located in the Galilee Basin in Queensland. Hancock Group retains the remainder of the shareholding;
►a 100% shareholding in the Kevin’s Corner Coal Project, located immediately adjacent to Alpha; and
► a 100% shareholding in the rail and port project connecting the above coal projects to the port of Abbot Point and Abbot Point T3 expansion project, whilst retaining some tonnage capacity for the Hancock Group
These projects are together one of the largest integrated coal development projects in the world. Some of the key highlights of the project are:
►The coal project consists of a 7.9 billion tonnes compliant with Australia’s Joint Ore Reserves Committee (JORC) resource categorisation, with 3.3 billion tonnes reserves in Measured + Indicated categories and with potential for more tonnage ;
► The infrastructure project involves the development, ownership and operation of an integrated infrastructure development consisting of a 495 km rail line and a 60 million tonnes per annum port at Abbot Point.
► At full production the three coal projects are together expected to supply about 84 million tonnes per annum to the global sea-borne coal market. The first phase of production, expected to start in 2014, envisages a total production of over 30 million tonnes per annum of high quality thermal coal.
►The coal mines will deliver a very high quality thermal coal with a Gross Calorific Value (as received) of about 5800-6000 kcal/kg and low ash and low sulphur content.
► The total investment in the first phase is estimated at approximately US$ 10 billion. This includes capital expenditure on the mines, rail line and port.
► Most of the coal from the project is intended for delivery into the Asian region as Letters of Intent for approximately 45 million tonnes per annum have already been signed or are in the process of finalisation with major utility companies in China, Japan, Korea, Taiwan and Vietnam.
► It is envisaged that GVK Energy, a subsidiary of GVKPIL will enter into a long-term coal supply contract for up to 20 million tonnes per annum.
► This is the only project in the Galilee Basin with a rail declaration, port allocation, native title and cultural heritage agreements for the entire project and Hancock is the only developer as on date to have actually mined, processed and transported coal proving the robustness of the Bankable Feasibility Study assumptions and the projects coal quality via international markets agreeing to conduct commercial scale trial burns.
► The projects are undergoing environmental assessment under the Alpha Project's EIS - the Alpha Project was declared a 'significant project requiring an EIS' under the State Development and Public Works Organisation Act 1971. The final approval is expected by the end of the year.
The consideration for the acquisition is US$ 1.26 billion to be paid in a phased manner to the Hancock Group with US$ 500 million payable now at Closing. Of the balance amounts, US$ 200 million will be paid one year from Closing and US$ 560 million will be paid on financial close for the project (anticipated to be in 2012) but in any event, no later than 3 years from Closing.
The funding for the acquisition is tied up with banks. The financing documents for funding the acquisition are being executed with the banks and the transaction is expected to Close and assets transferred in about two weeks.
About GVK
GVKPIL is one of India’s largest infrastructure developer with experience and expertise spanning areas such as Energy, Airports, Roads and Urban Infrastructure. In addition, GVK is also involved in many other businesses held by it privately including Real Estate, Hotels, Pharmaceuticals, Resources, etc. As on date GVK has invested over Rs.10,000 Crores (US$ 2.2 Billion) in various projects and has on hand projects in the pipeline of over Rs. 25,000 Crores (US$ 5.5 Billion).
For additional info on this acquisition click here
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Friday, 06 September 24
REBOUND IN OIL DEMAND COULD LIFT MARKET IN LATTER HALF OF 2024 - BIMCO
Supply/demand
Based on a strong second half demand, the supply/balance is forecast to strengthen in 2024 but weaken slightly in 2025 as n ...
Friday, 06 September 24
GLOBAL SEABORNE LNG TRADE HAS CONTINUED TO INCREASE LAST YEAR - BANCHERO COSTA
Global seaborne LNG trade has continued to increase last year, helped also by the events in Ukraine which forced Europe to diversify away from Russ ...
Wednesday, 28 August 24
SEABORNE COAL IMPORTS INTO INDIA INCREASED BY +9.9% Y-O-Y TO 146.6 MLN T - BANCHERO COSTA
Global coal trade has really picked up pace over the past year, and is now fully back to pre-Covid levels said Banchero Costa Research in its lates ...
Tuesday, 06 August 24
EXERCISE CAUTION WITH AMMONIA SWITCH - BALTIC EXCHANGE
A new study from the Massachusetts Institute of Technology (MIT) has thrown a spanner into the plan to transition ships from diesel fuel to ammonia ...
Friday, 02 August 24
ENERGY MARKET DEVELOPMENTS: COAL AND NATURAL GAS PRICES REACH RECORD HIGHS - WORLD BANK
The recent surge in natural gas and coal prices has been so swift that the main benchmarks were roughly three times higher in 2022Q2 compared to a ...
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- Videocon Industries ltd - India
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- Leighton Contractors Pty Ltd - Australia
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- Australian Commodity Traders Exchange
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- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
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- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
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- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Australian Coal Association
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
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- Miang Besar Coal Terminal - Indonesia
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- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- PTC India Limited - India
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
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- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
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- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
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- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
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- Singapore Mercantile Exchange
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- Ministry of Transport, Egypt
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- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
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