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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 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
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Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
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Monday, 19 February 24
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- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Planning Commission, India
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- PTC India Limited - India
- Bhatia International Limited - India
- The Treasury - Australian Government
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
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