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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, 18 February 23
PAKISTAN PLANS TO QUADRUPLE DOMESTIC COAL-FIRED POWER, MOVE AWAY FROM GAS - REUTERS
Pakistan plans to quadruple its domestic coal-fired capacity to reduce power generation costs and will not build new gas-fired plants in the coming ...
Saturday, 18 February 23
2023 MARINE FUEL MARKET PREDICTIONS - JOHN BERGMAN, AURAMARINE
The drive for decarbonisation we witnessed in 2022 has continued into 2023, demonstrating the shipping’s industry positive strides in the fas ...
Saturday, 28 January 23
COAL GROWTH BLIP NOT TO BE REPEATED - BALTIC EXCHANGE
As 2022 drew to a close, global coal demand looked set to end the year just 1.2% up on the previous year. But that small increase was enough to pus ...
Thursday, 26 January 23
CHINA'S COAL OUTPUT INCREASES IN DECEMBER 2022 - XINHUA
China’s raw coal output posted stable expansion in December 2022, official data showed.
The country produced 400 million tonne ...
Thursday, 26 January 23
COKING COAL NARROWS THE GAP ON THERMAL AS CHINA REOPENS - REUTERS
The premium of high-grade thermal coal over coking coal in Asia is shrinking as China’s re-opening and ending of a ban on imports from Austra ...
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- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Planning Commission, India
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- GMR Energy Limited - India
- Economic Council, Georgia
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Australian Coal Association
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
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