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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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Tuesday, 25 August 20
INDIA'S IMPORTS FALL AS LOCKDOWNS IMPACT THE POWER AND INDUSTRIAL SECTORS - REPORT
India is the world’s second largest thermal coal consumer and importer, importing an estimated 211 million tonnes of thermal coal in 2019.&nb ...
Monday, 24 August 20
A COMBINATION OF DEVELOPMENTS DROVE THE FALLOFF COAL PRICES - CHIEF ECONOMIST’ OFFICE, AUSTRALIA
China, rising domestic production combined with subdued power demand;
India, a lockdown coupled with government directives that fav ...
Monday, 24 August 20
AUSTRALIA'S THERMAL COAL EXPORTS ARE FORECAST TO DROP FROM AN ESTIMATED $20 BILLION IN 2019-20 TO $16 BILLION IN 2020-21: REPORT
Thermal coal spot prices have fallen sharply as the impact of COVID-19 drives a contraction in seaborne trade for only the second time this century ...
Saturday, 22 August 20
REPORT SEES INDIA’S RELIANCE ON THERMAL POWER DROPPING TO 50% IN 2021, 43% IN 2026 - ET ENERGY | IEEFA
India’s dependence on thermal power will reduce to 50 per cent by 2021-22 and 43 per cent by 2026-27 on the back of renewable energy (RE) cap ...
Friday, 21 August 20
323 MILLION ELECTRIC VEHICLES WILL BE ON THE ROADS BY 2040 - WOOD MACKENZIE
Electric vehicle (EV) sales are expected to reach 45 million units per year by 2040, with a total global EV stock of 323 million, according to new ...
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- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Planning Commission, India
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
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