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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, 06 October 22
COAL INDIA ASKED TO ENHANCE SUPPLY TO THERMAL POWER PLANTS - IANS
With the festival season round the corner, Coal India Ltd. has been directed by the government to scale up dispatch to thermal power plants.
&n ...
Wednesday, 05 October 22
BUNKER PRICES DOWN AGAIN; IS THERE MORE TO COME? - INTEGR8 FUELS
It’s the economy…..”
VLSFO prices are now back to levels at the start of this year. After all the extremes of thi ...
Wednesday, 05 October 22
MARKET INSIGHT - INTERMODAL
Amid the looming western sanctions on Russia, the country is challenged to pivot its energy markets away from Europe and toward the East. Yet, Russ ...
Tuesday, 04 October 22
A REMARKABLE SHIFT IN FORTUNES HAS BEEN NOTED IN THE CRUDE OIL TANKER MARKETS - ALLIED SHIPPING
A remarkable shift in fortunes has been noted in the crude oil tanker markets over the past month, yet despite these shifts being seemingly in thei ...
Tuesday, 04 October 22
OIL PRICES COULD SOON RETURN TO $100 AS OPEC+ CONSIDERS ‘HISTORIC’ CUT, ANALYSTS SAY - CNBC
An influential alliance of some of the world’s most powerful oil producers is reportedly considering their largest output cut since the start ...
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- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
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