We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Friday, 02 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more ...
Friday, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
|
|
|
Showing 6 to 10 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- The University of Queensland
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
|
| |
| |
|
