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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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Monday, 28 September 20
NEW LNG PROJECTS - ALL DRESSED UP AND NO PLACE TO GO - WOOD MACKENZIE
It was meant to be another boom year. After a record 70 mmtpa of new LNG capacity was sanctioned in 2019, at least as much capacity was lined up fo ...
Thursday, 24 September 20
SUPRAMAX: INDO TO INDIA FIXING AROUND US$13,000 - FEARNLEYS
Cape
Over the last week the iron ore segment from Brazil to China has picked up, and we see freight rates up USD 2 (12%) week on week Fearnleys ...
Thursday, 24 September 20
KOREA MIDLAND POWER TO BUY 1.92 MILLION TONS OF 4,300-4,700 NCV COAL FOR THREE YEARS
COALspot.com: Korea Midland Power Co. Ltd, has issued an International tender for 640,000 MT 4,300-4,700 kcal/kg NCV coal per year.
...
Wednesday, 23 September 20
VIETNAM'S NEW POWER DEVELOPMENT PLAN MUST OPTIMIZE RENEWABLES AND AVOID FOSSIL FUEL LOCK-IN: IEEFA
EVN’s financial constraints leaves the utility with little room for error
Implementing Vietnam’s soon-to-be-launched next Power De ...
Wednesday, 23 September 20
MARKET INSIGHT - INTERMODAL
Undoubtedly, this year (ongoing) will never be forgotten because in a matter of months it has managed to severely affect and shape our day to day p ...
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- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- White Energy Company Limited
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
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