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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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Sunday, 30 August 20
PANAMAX - THIS WEEK THE DEMAND HAS PICKED UP, BUT THE TONNAGE LIST IS INCREASING DAY BY DAY - FEARNLEYS
Cape Size
More or less flat from previous week, with cape rates moving from US$ 19,500 to 18,900 on average. West Australia however being more ...
Saturday, 29 August 20
COAL INDIA'S FUEL SUPPLY TO POWER SECTOR DROPS ABOUT 20% IN APR-JUL: PTI
State-owned Coal India”s fuel supply to the power sector registered a decline of 19.5 per cent to 126.30 million tonnes (MT) in the April-Jul ...
Saturday, 29 August 20
SOUTH KOREAN BROKERAGE FIRM KOREA INVESTMENT & SECURITIES TO STOP ALL COAL BUSINESS - KOREA HERALD
South Korean brokerage firm Korea Investment & Securities has decided to stop its investments in coal, in line with the Moon Jae-in administrat ...
Thursday, 27 August 20
KOREAN GENCOS INVITED BIDS FOR TOTAL 985,000 TONS OF BITUMINOUS COAL FOR NOVEMBER 2020 LOADING
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) on behalf of EWP, KOSPO, KOSEP and KOWEPO has issued an international tender for total 985,000 ...
Thursday, 27 August 20
SOUTHEAST ASIAN NATIONS SET REGION-WIDE RENEWABLE ENERGY GOAL OF 23 PERCENT BY 2025 - ASEAN POST
The Association of Southeast Asian Nations (ASEAN) has set an ambitious target of securing 23 percent of its primary energy from renewable so ...
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- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- The University of Queensland
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
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