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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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Thursday, 13 October 22
OPEC DOWNGRADES CRUDE OIL DEMAND, AS WORLD ECONOMY ENTERS SLOWDOWN
Crude Oil Price Movements
The OPEC Reference Basket (ORB) declined m-o-m by $6.58 in September, or 6.5%, to average $95.32/b. Pressure from equ ...
Wednesday, 12 October 22
MARKET INSIGHT - INTERMODAL
Sale and Purchase activity during the first three quarters of 2022 has been remarkable.
Focusing only on Tankers and Bulkers, such v ...
Monday, 10 October 22
ENERGY TRANSITION BOOSTS GLOBAL LONG-TERM DEMAND FOR METALS - FITCH RATINGS
The energy transition will significantly increase demand for metals used in manufacturing of electric vehicles (EVs) and renewable power generation ...
Monday, 10 October 22
GLOBAL CEOS EXPECT IMPENDING RECESSION TO BE 'SHORT AND SHARP,' POLL SHOWS - CNBC
Global CEOs are anticipating a recession in the next 12 months, according to a new survey by professional services firm KPMG, which said more than ...
Thursday, 06 October 22
AUSTRALIA’S RESOURCES REVENUE TO HIT RECORD AMID UKRAINE CONFLICT - REUTERS
Australian resources and energy export earnings are forecast to jump 7% to a record A$450 billion ($290 billion) this fiscal year, bolstered by soa ...
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- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- The University of Queensland
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
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