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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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Wednesday, 12 June 24
CHINA ACCOUNTS FOR 16.3% OF AUSTRALIA'S COAL EXPORTS, FOLLOWED BY INDIA 14.4% - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels says Banchero Costa in its latest report.
...
Wednesday, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
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Showing 21 to 25 news of total 6871 |
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- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
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