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