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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, 26 July 22
CAP RUSSIA'S OIL PRICE NOW - PROJECT SYNDICATE
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Tuesday, 26 July 22
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Monday, 25 July 22
GLOBAL 2021 COAL-FIRED ELECTRICITY GENERATION SURGES TO RECORD HIGH - REUTERS
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Saturday, 23 July 22
THE EU HAS BEEN REDUCING IMPORTS OF RUSSIAN REFINED OIL PRODUCTS SINCE MARCH - BANCHERO COSTA
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Saturday, 23 July 22
INDONESIA CONSIDERING SCRAPPING DOMESTIC SALES RULE FOR PALM OIL EXPORTS - REUTERS
Indonesia is considering removing a domestic sales requirement for palm oil exports because high inventories of the vegetable oil have been holding ...
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- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Planning Commission, India
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- White Energy Company Limited
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
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