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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, 04 September 20
IN A DEEPENING DEBT HOLE OF $34 BILLION, INDONESIA’S PLN MUST STOP DIGGING - IEEFA
The utility has added IDR100 trillion in debt annually for the last five years
Utilities globally started changing the way they do business ye ...
Friday, 04 September 20
KOMIPO INVITED BIDS FOR AUSTRALIAN MIN 5,700 NCV COAL FOR NOVEMBER
COALspot.com: Korea Midland Power Co. Ltd, has issued an International tender for 260,000 MT Min.5,700 kcal/kg NCV coal November, 2020 loading. Acc ...
Thursday, 03 September 20
BRINGING SERVICES OF FTCCI CLOSER TO THE EXPORTERS AT GMR AIR CARGO COMPLEX AT SHAMSHABAD
Press Release: “FTCCI Trade Facilitation Services at your doorstep now” says J.S. Chandrashekar, IRS., Principal Commissioner of Custom ...
Thursday, 03 September 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Wednesday, 02 September 20
COAL PRODUCTION FALLS 7% IN APR-AUG; OFF TAKE DIPS 13.4% - FINANCIAL EXPRESS
In the month of August coal off take also increased 9.3% y-o-y to 44.34 MT as compared with 40.57 MT in the same period last year.
C ...
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- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Planning Commission, India
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Parliament of New Zealand
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Deloitte Consulting - India
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
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