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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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Saturday, 25 March 23
COAL INDIA HAS STRONG CASE TO INCREASE PRICES, TALKS ON: CMD AGRAWAL - BUSINESS STANDARD
Coal India (CIL) Chairman and Managing Director Pramod Agrawal said on Monday there is a “strong case” for increasing coal prices, and ...
Saturday, 25 March 23
ASIAN CRUDE PALM OIL WATCH 1Q23 - FITCH RATINGS
Malaysian benchmark crude palm oil (CPO) spot prices have averaged around USD915 per tonne (t) so far in 1Q23, sharply lower than the average of ar ...
Saturday, 25 March 23
INDONESIA’S COAL EXPORT INCREASED BY 21.0% YOY TO 388.4 MLN T IN 2022 - BANCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels. In the f ...
Saturday, 25 March 23
GLOBAL LNG-ASIA SPOT PRICES SLIP AS WEAK NORTHERN DEMAND REMAINS - REUTERS
Asian spot prices of liquefied natural gas (LNG) declined this week, falling to a 21-month low, as weak demand in the northeast Asia region continu ...
Wednesday, 22 March 23
OIL PRICE FALL SPECULATIVE, TO HIT $140 BY YEAR-END -ANDURAND: REUTERS
The recent fall in oil prices due to banking jitters is speculative and oil will hit $140 a barrel by the end of the year, hedge fund manager Pierr ...
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- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Planning Commission, India
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- PTC India Limited - India
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
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