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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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Friday, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
Friday, 28 June 24
INDIA'S CY23 COAL USE LARGER THAN NORTH AMERICA, EUROPE COMBINED - THE HINDU
For the first time, India’s coal consumption surpassed that of North America and Europe combined in the calendar year 2023, said Energy Insti ...
Monday, 24 June 24
PLN'S FINANCIAL SUSTAINABILITY RESTS ON ACCELERATED COAL RETIREMENT AND RENEWABLES DEPLOYMENT - MUTYA YUSTIKA
On 28 May 2024, Indonesia’s national electricity utility, PT Perusahaan Listrik Negara (PLN), released its financial report for 2023. Althoug ...
Monday, 24 June 24
INDIA'S COAL-BASED POWER DEMAND AT ALL-TIME HIGH, GOVERNMENT SAYS - REUTERS
India’s demand for coal-based power has risen by 7.3% this fiscal year to an all-time high, the government said in a statement on Wednesday.
...
Monday, 24 June 24
CHINA'S COAL INDUSTRY TURNS GREENER THROUGH INNOVATIVE APPROACHES - PEOPLE'S DAILY
At an opencast mine operated by Inner Mongolia Pingzhuang Coal Group Co. Ltd., a subsidiary of CHN Energy Investment Group (CHN Energy), a 14-meter ...
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Showing 11 to 15 news of total 6871 |
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- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- The University of Queensland
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
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