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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, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
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- White Energy Company Limited
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- GMR Energy Limited - India
- PTC India Limited - India
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Planning Commission, India
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- The Treasury - Australian Government
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