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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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- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- The University of Queensland
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
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