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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, 29 July 22
GLENCORE TO SUPPLY COAL TO NIPPON STEEL AT $375 PER TON - BLOOMBERG
Glencore Plc, agreed to supply coal to Nippon Steel at one of the highest prices ever paid by the Japan Bloomberg reported on July 27.
...
Friday, 29 July 22
GLOBAL COAL DEMAND IS SET TO RETURN TO ITS ALL-TIME HIGH IN 2022 - IEA
The world’s consumption of coal is set to rise slightly in 2022, taking it back to the record level it reached nearly a decade ago, according ...
Thursday, 28 July 22
CREW FAMILIARISATION IS CRITICAL WHEN TAKING OVER A VESSEL - WEST P&I CLUB
Knowledge to Elevate
When a vessel changes ownership and/or manager, it can take some considerable time before the new crew and mana ...
Thursday, 28 July 22
RETURN OF COAL A THREAT TO EUROPEAN COMPANIES' ESG RATINGS - REUTERS
European companies turning to coal as an alternative to Russian gas face a hit to their environmental, social and governance ratings, leaving them ...
Wednesday, 27 July 22
MARKET INSIGHT - INTERMODAL
Amid the upcoming ban on Russian coal from the EU, which will be in full effect on August 10th, EU nations have been accelerating their coal import ...
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- Kapuas Tunggal Persada - Indonesia
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- Australian Commodity Traders Exchange
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- Petrochimia International Co. Ltd.- Taiwan
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- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
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- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
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- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
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- The University of Queensland
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- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
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- Holcim Trading Pte Ltd - Singapore
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- CNBM International Corporation - China
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
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