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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, 23 September 22
CHINA DIGS DEEP TO RAISE COAL OUTPUT TO RECORD HIGH - REUTERS
China’s coal production has surged this year as the government seeks to improve energy security by reducing dependence on imports and amassin ...
Friday, 23 September 22
EUROPEAN STEEL BUYERS SEEK DIRECTION IN VOLATILE MARKET - MEPS INTERNATIONAL
Demand for steel is slow to recover, after the summer break. Mill production costs continue to increase. Steel purchasers are uncertain about the f ...
Friday, 23 September 22
BUOYANT COAL INDUSTRY SEEKS WAYS TO STAY IN THE LONG-TERM ENERGY MIX - REUTERS
There’s no doubt that the global coal industry has been a major beneficiary of Russia’s invasion of Ukraine and the subsequent energy c ...
Friday, 23 September 22
MARKET INSIGHT - INTERMODAL
In view of the forthcoming winter, Europe is trying to escape from its energy (oil & gas) dependency from Russia to ensure energy abundance eve ...
Tuesday, 20 September 22
CHINA'S DAILY COAL OUTPUT HITS 3-MONTH LOW IN AUGUST ON RAINS, COVID CURBS - REUTERS
China’s daily coal output in August slipped to a three-month low as some mines in its biggest coal mining regions reduced operations or even ...
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- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Planning Commission, India
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
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