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