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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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Monday, 24 June 24
PHILIPPINES COAL SUPPLY ENOUGH UNTIL 2030 - PHILSTAR GLOBAL
The country’s existing coal-fired power plants are sufficient to ensure enough base load capacity in the next six years, Energy Secretary Rap ...
Friday, 14 June 24
NEXTDECADE, SAUDI ARAMCO SIGN 20-YEAR LNG SUPPLY DEAL - REUTERS
U.S. liquefied natural gas (LNG) provider NextDecade has signed a non-binding agreement with Saudi Aramco 2222.SE to supply 1.2 million tonnes per ...
Friday, 14 June 24
NEWBUILDING PRICES CLIMB 3% TO HIGHEST LEVEL IN 16 YEARS - NIELS RASMUSSEN
“Since the start of the year, newbuilding prices have risen 3% to their highest level since 2008. Compared to their most recent low in late 2 ...
Friday, 14 June 24
INDIA TARGETS HIGHER DOMESTIC COAL PRODUCTION, REDUCED IMPORTS: GOVT - REUTERS
India wants to reduce coal imports and increase domestic production, federal coal minister G. Kishan Reddy said on Thursday.
The cou ...
Thursday, 13 June 24
US LNG TO ASIA FOR POWER GENERATION EXPECTED TO CUT EMISSIONS VERSUS COAL - RYSTAD ENERGY
The value-chain emissions of liquified natural gas (LNG) are lower on average than for coal-fired power generation, even when the fuel is shipp ...
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- LBH Netherlands Bv - Netherlands
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- London Commodity Brokers - England
- Bhatia International Limited - India
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- Globalindo Alam Lestari - Indonesia
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- Kumho Petrochemical, South Korea
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- Ind-Barath Power Infra Limited - India
- Planning Commission, India
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- Trasteel International SA, Italy
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- MS Steel International - UAE
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
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- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
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- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
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- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Australian Coal Association
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Siam City Cement - Thailand
- CNBM International Corporation - China
- White Energy Company Limited
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- The University of Queensland
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
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