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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, 05 January 24
BANGLADESH’S 2023 COAL-FIRED POWER OUTPUT TRIPLED, EASING SHORTAGES - REUTERS
Bangladesh nearly tripled its coal-fired power output in 2023, a Reuters analysis of government data showed, helping it tide over the worst power s ...
Tuesday, 02 January 24
COAL TRADE CONTINUES TO HEAD EAST - BALTIC EXCHANGE
The global coal trade, once concentrated in the Pacific and Atlantic basins, is undergoing a significant transformation, as highlighted in the Inte ...
Tuesday, 02 January 24
COAL CARGOES: AVOIDING EXPLOSION AND SELF-HEATING - GARD
KNOWLEDGE TO ELEVATE
Despite its contribution to greenhouse gas emissions, global coal consumption climbed to an all-time high in 2022 and is ...
Tuesday, 02 January 24
SINOPEC FORECASTS CHINA’S COAL CONSUMPTION TO PEAK AROUND 2025 - REUTERS
China Petrochemical Corp, or Sinopec, expects coal consumption to peak around 2025 at 4.37 billion metric tons, the state energy group said in an o ...
Thursday, 07 December 23
CHINA TO SET UP COAL PRODUCTION RESERVE TO STABILISE PRICES - REUTERS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
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- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
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- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Minerals Council of Australia
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- London Commodity Brokers - England
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Parliament of New Zealand
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
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