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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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Thursday, 09 November 23
GREEK AND CHINESE COMPANIES OWN 34% OF THE GLOBAL FLEET’S CARGO CAPACITY - BIMCO
“The global fleet of cargo carrying ships consists of around 61,000 ships with a deadweight capacity of about 2,200 million tonnes. The ships ...
Monday, 23 October 23
CHINA SEPT COAL OUTPUT HITS SIX-MONTH HIGH ON RISING POWER DEMAND - REUTERS
China’s September coal output rose 0.4% from August to the highest level since March, official data showed on Wednesday, on rising power dema ...
Monday, 23 October 23
INDIA COAL INVENTORIES DROP AT FASTEST PACE IN TWO YEARS, BOOSTING IMPORTS - REUTERS
Coal inventories at Indian power plants in the first half of October fell at their fastest rate in two years, an analysis of government data showed ...
Tuesday, 19 September 23
LNG SHIPPING STOCKS: THE ASIAN GROWTH UP-INDICES
Last week, the UP World LNG Shipping Index (UPI) gained 3.81 points or 2.51%, closing at 155.85 points. This index tracks the performance of LNG sh ...
Sunday, 10 September 23
GOLDMAN SACHS PREDICTS OIL PRICE TO HIT $100 ON OPEC CUTS - YAHOO FINANCE
Oil supply cuts by Saudi Arabia and Russia could lead to Brent crude jumping as high as $107 a barrel in 2024, Goldman Sachs Commodities Research h ...
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- Vedanta Resources Plc - India
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- Petron Corporation, Philippines
- GMR Energy Limited - India
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- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Planning Commission, India
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- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
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- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
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- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
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- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
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- Directorate General of MIneral and Coal - Indonesia
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- New Zealand Coal & Carbon
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