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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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Thursday, 02 March 23
DRY BULK MARKET: THE WAY CHINA GOES, SO GOES THE MARKET - BIMCO
We expect demand growth within the 1.5-2.5% range in 2023, driven by China’s economic recovery. Improvements in consumer sentiment should hel ...
Thursday, 02 March 23
INDIA, CHINA DEMAND BOOST LOW-RANK THERMAL COAL PRICES IN ASIA - RUSSELL, REUTERS
Signs of stronger import demand from India have arrested the decline in price of the thermal coal grades most commonly sought by the world’s ...
Thursday, 02 March 23
INDIA CHEERS THE RETURN OF ‘KING COAL’ AS INDUSTRY SEES BUOYANT FUTURE - REUTERS
India’s coal industry celebrated the return of its major conference after a three-year pandemic hiatus by presenting a bullish view of demand ...
Wednesday, 01 March 23
GEO CONNECT ASIA RETURNS IN MARCH TO ACCELERATE THE REGION’S GEOSPATIAL AND LOCATION INTELLIGENCE CAPABILITIES
Press Release: The third edition of GCA will be held in conjunction with Digital Construction Asia and the inaugural Drones Asia – an event d ...
Wednesday, 01 March 23
THE DECLINE IN THE COAL PRICE SINCE THE BEGINNING OF THE YEAR HAS BEEN SIGNIFICANT - INTERMODAL
Last week, the front-month API2 future rose by 3.5%, but since the beginning of the year the future has fallen by 39% to $136.65/t, while the Newca ...
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- Parliament of New Zealand
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- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
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