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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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- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Central Electricity Authority - India
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Parliament of New Zealand
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Bhushan Steel Limited - India
- Planning Commission, India
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
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