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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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Thursday, 27 August 20
BANGLADESH POWER MINISTRY SEEKING AUTHORITY TO CANCEL 13,000 MW OF PROPOSED COAL-FIRED CAPACITY - BUSINESS STANDARD
In a bid to move away from dirty energy, the Ministry of Power, Energy and Mineral Resources is seeking the prime minister’s approval to conv ...
Wednesday, 26 August 20
ASIAN COAL PRICES LIKELY TO REMAIN DEPRESSED SAY TRADERS, ANALYSTS - REUTERS
Asian coal prices, which have fallen around 25% this year as power demand slumped due to the coronavirus outbreak, are unlikely to move higher befo ...
Wednesday, 26 August 20
WORLD COAL EXPORTS: INDONESIAN THERMAL COAL EXPORTS HAVE COME UNDER PRESSURE AS THERMAL COAL PRICES WEAKEN - REPORT
Indonesia’s exports to decline sharply from record highs
Indonesia is the world’s largest thermal coal exporter, sellin ...
Wednesday, 26 August 20
JAPAN'S COAL IMPORTS ARE BEING AFFECTED BY COMPETING INFLUENCES - REPORT
Japan is the world’s third largest thermal coal importer, importing an estimated 135 million tonnes of thermal coal in 2019. The country&rsqu ...
Wednesday, 26 August 20
PENDING SOUTH KOREA LEGISLATION COULD FORCE HALT TO COUNTRY’S COAL PLANT EXPORT DEALS - KOREA ECONOMIC DAILY
South Korea’s parliament looks set to pass new legislation to ban financing on foreign coal power projects, putting all overseas coal-fired p ...
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- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Wilmar Investment Holdings
- PTC India Limited - India
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Australian Coal Association
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Planning Commission, India
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- CNBM International Corporation - China
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
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