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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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Tuesday, 11 April 23
OIL RISES ON CHINA STIMULUS EXPECTATIONS, WEAKER DOLLAR - REUTERS
Oil prices rose on Tuesday on expectations of potential economic stimulus by China, healthy demand in the rest of Asia and a drop in U.S. crude sto ...
Sunday, 09 April 23
CHINA’S BUSINESS INCOME REBOUND POINTS TO IMPROVING ECONOMY: OFFICIAL - XINHUA
Chinese businesses have posted a strong rebound in sales revenue since the beginning of this year in the latest signal of an improving economy.
...
Sunday, 09 April 23
COAL INDIA TO BOOST SUPPLIES TO INDUSTRIES AS UTILITIES’ INVENTORIES RISE - REUTERS
Coal India Ltd will increase supplies to industries, the world’s largest coal miner said on Wednesday as fuel inventories at utilities run by ...
Thursday, 06 April 23
MARKET INSIGHT - INTERMODAL
LNG Current Supply/Demand Dynamics
This year, LNG supply will likely exceed demand, so prices will need to decline to levels that will encourag ...
Sunday, 26 March 23
EUROPE’S RUSH TO LNG COULD TURN INTO 'WORLD’S MOST EXPENSIVE AND UNNECESSARY INSURANCE POLICY'- CNBC
Europe’s rapid buildout of liquefied natural gas infrastructure is on track to far exceed demand by the end of the decade, according to new r ...
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- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
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