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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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Sunday, 16 April 23
CHINA JUGGLES FOUR MAJOR ECONOMIC CHANGES IN 2023 - WOOD MACKENZIE
Change is afoot in China. Economic growth is slowing, while rising political tensions between China and the US, coupled with global supply chain re ...
Sunday, 16 April 23
CHINA'S MARCH COAL IMPORTS JUMP TO 3-YEAR HIGH - REUTERS
China’s coal imports surged in March to their highest in any month over the past three years as utilities increased purchases on expectations ...
Sunday, 16 April 23
OPEC KEEPS WORLD OIL DEMAND GROWTH OUTLOOK UNCHANGED
The OPEC Reference Basket (ORB) declined in March by $3.43, or 4.2%, m-o-m to average $78.45/b. The ICE Brent first-month contract fell by $4.33, o ...
Sunday, 16 April 23
CHEAPER SPOT LNG PRICES TEMPT SOME ASIAN BUYERS AMID SUPPLY GAINS - REUTERS
Cheaper spot prices for liquefied natural gas (LNG) are luring price-sensitive buyers back in Asia, with China and India recording rising imports i ...
Tuesday, 11 April 23
COAL USE CLIMBS WORLDWIDE DESPITE PROMISES TO SLASH IT - AAP
The burning of coal for electricity, cement, steel and other uses went up in 2022 despite global promises to phase down the fuel that is the bigges ...
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- Coastal Gujarat Power Limited - India
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- Binh Thuan Hamico - Vietnam
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- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
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- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
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- Ministry of Transport, Egypt
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- Economic Council, Georgia
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- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Australian Coal Association
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- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
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- Sakthi Sugars Limited - India
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- Indian Energy Exchange, India
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- The University of Queensland
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- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
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- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
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- Bharathi Cement Corporation - India
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
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- CNBM International Corporation - China
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- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
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- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- White Energy Company Limited
- The State Trading Corporation of India Ltd
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- Ind-Barath Power Infra Limited - India
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