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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, 15 September 11
BOTSWANA COAL AND ENERGY CONFERENCE 2011
Press Release - Botswana Coal and Energy Conference 2011 | 29-30 November 2011 | Gaborone. Botswana represents Africa’s exciting new coal and ...
Thursday, 15 September 11
DRY BULK MARKET EDGING FURTHER UP THE SCALE, CLOSING IN ON 2,000 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was up once again yesterday, reaching 1,927 points, or 1.375 higher on the day. Thus, it has kept its rising trend established d ...
Wednesday, 14 September 11
INDO STRAITS BAGS 2.4 MILLION TON COAL TRANSPORTATION CONTRACT FROM ARUTMIN
COALspot.com - PT Indo Straits Tbk (PTIS) bagged a contract to tranship about 2.40 million tons of coal over an initial period of 6 months fro ...
Wednesday, 14 September 11
DUTA PERTIWI DISCOVERS COAL RESERVE - INSIDER STORIES
Insider Stories reported that, PT Duta Pertiwi Nusantara Tbk (DPNS) yesterday steeply jumped 24.56% to Rp710 a share after the company discove ...
Wednesday, 14 September 11
GOVT SETS SEPTEMBER COAL REFERENCE PRICE AT $116.26 PER TON
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the September 2011 coal reference price at US$ 116.26 per ton slightly ...
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- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
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