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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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Wednesday, 22 November 23
INDIA: GOVERNMENT PLANS 1.4 BILLION TONNE COAL OUTPUT BY 2027 - LIVEMINT
The Union coal ministry on Monday announced plans to increase India’s coal production to 1.404 billion tonne by 2027, with an eye to further ...
Wednesday, 22 November 23
OBLIGATION. INDONESIA AIMS TO START COLLECTING LEVIES FROM COAL MINERS IN JANUARY - REUTERS
Indonesia plans to start collecting levies from coal miners in January to be used to compensate miners who sell coal to the state utility at lower ...
Tuesday, 21 November 23
INDIAN COAL POWER PLANTS’ CAPACITY UTILISATION WILL IMPROVE TO 65% THIS FISCAL: - CRISIL
Coal-based thermal power units’ plant load factor (PLF) or capacity utilisation will improve to 65 percent in the current fiscal year despite ...
Tuesday, 14 November 23
CAPITAL PRODUCT PARTNERS L.P. ANNOUNCES TRANSFORMATIVE TRANSACTION INCLUDING THE ACQUISITION OF 11 NEWBUILD LNG CARRIERS FOR $3.1 BILLION
Capital Product Partners L.P. announced that it has entered into an umbrella agreement (the “Umbrella Agreement”) with Capital Maritime ...
Tuesday, 14 November 23
COAL INDIA BEATS Q2 PROFIT VIEW ON HIGH POWER DEMAND AMID WEAK MONSOON - REUTERS
Coal India on Friday reported better-than-expected second-quarter profit, helped by high power demand and boosted production amid a weak monsoon.
...
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- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- VISA Power Limited - India
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
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