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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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Tuesday, 04 October 22
INDONESIAN COAL PRICE REFERENCE SURGE AGAIN TO RECORD HIGH
COALspot.com: Indonesian Coal Price Reference reached another record high in October as Russia's war in Ukraine continues to spark a surge in c ...
Sunday, 02 October 22
MISC STRENGTHENS ITS PARTNERSHIP WITH SEARIVER MARITIME
MISC Berhad (MISC) today announced that its subsidiaries Polaris LNG Three Pte. Ltd. and Polaris LNG Four Pte. Ltd. have secured long-term time cha ...
Thursday, 29 September 22
MARKET INSIGHT - INTERMODAL
This week, focus turns to the 38th APPEC Conference, where leading professionals from the global oil industry will discuss the future key drivers o ...
Thursday, 29 September 22
HIGH COAL PRICES REMAIN A CONCERN FOR DOMESTIC NON-FERROUS METAL COMPANIES - ICRA
According to ICRA on Monday, the high price of coal will have a negative effect on the profitability of domestic non-ferrous metal companies that m ...
Tuesday, 27 September 22
14% INCREASE IN EUROPEAN COAL DEMAND TO BE SHORT-TERM TREND - WOOD MACKENZIE
European seaborne thermal coal demand is projected to increase 14% or 12 million metric tonnes (Mt) this year to 98 Mt as it grapples with the curr ...
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- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
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- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
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