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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, 18 September 11
THE COAL IMPORTS TO INDIA, OUT OF INDONESIA LIKELY TO PICK UP - CAPT. REDDY
COALspot.com - The freight market continued the upward trend until midweek almost touching 2,000 points, however towards second half of the week the ...
Saturday, 17 September 11
GVK ACQUIRES HANCOCK COAL AND INFRASTRUCTURE FOR US$ 1.26 BILLION
COALspot.com - GVK group, India’s leading infrastructure developer,confirmed arrangements for the acquisition of a strategic part of large, hi ...
Friday, 16 September 11
DELTA DUNIA MAKMUR REMOVED 30.9 MILLION BCM OVERBURDEN IN AUGUST 2011
COALspot.com - PT. Delta Dunia Makmur Tbk has removed 30.9 million bcm (+13.2% YoY) overburden in August 2011 while coal production was at 2.9 ...
Thursday, 15 September 11
RUSSIAN COAL EXPORTS UP 10.9% IN JAN-AUG TO 71.50 MILLION TONS - PORT NEWS / HELLENIC SHIPPING
Port News reported that, Coal exports from Russia in January-August 2011 grew by 10.9% compared with the same period last year, to 71.50 million ton ...
Thursday, 15 September 11
INDIAN GOVT PLANS TO DEVELOP 9 NEW MAJOR PORTS BY 2016 - INVEST MONEY / HELLENIC SHIPPING
The government has announced to make a investment of more than Rs 22,000 crore (approximately US$ 4,623,791,331) to develop nine new major ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
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- Billiton Holdings Pty Ltd - Australia
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- Global Coal Blending Company Limited - Australia
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- MS Steel International - UAE
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- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
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- Metalloyd Limited - United Kingdom
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- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
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- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
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- White Energy Company Limited
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- Bangladesh Power Developement Board
- Minerals Council of Australia
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- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
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- Thai Mozambique Logistica
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- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
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- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Sakthi Sugars Limited - India
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- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
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- Parliament of New Zealand
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- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
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- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
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- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
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