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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, 26 February 23
MAWANI AND JEDDAH CHAMBER SIGN AN AGREEMENT TO BUILD INTEGRATED LOGISTICS PARK
Press Release: The Saudi Ports Authority (Mawani) and Jeddah Chamber of Commerce and Industry have today inked an agreement to set up an integrated ...
Saturday, 25 February 23
INDONESIA IS STILL BY FAR THE TOP SUPPLIER OF COAL TO CHINA - 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, said ban ...
Wednesday, 22 February 23
MARKET INSIGHT - INTERMODAL
The short-term outlook of the global soybean market is currently pivoted by a combination of weather patterns that are affecting the harvest progre ...
Saturday, 18 February 23
OIL UNLIKELY TO BREAK ABOVE $100/BBL THIS YEAR, J.P.MORGAN SAYS –- REUTERS
Brent oil prices are unlikely to breach the $100 a barrel level this year, barring any significant geopolitical drivers, with OPEC+ potentially add ...
Saturday, 18 February 23
CHINA'S COAL PRICES FALL TO 1 YR-LOW, CLOUDING DEMAND AND IMPORT OUTLOOK - REUTERS
China’s thermal coal prices hit their lowest levels in a year this week on rising inventories as domestic mine production is recovering faste ...
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- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- White Energy Company Limited
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
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