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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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Friday, 09 September 11
SUPRA BARA SECURES $20 MILLION LOAN - JP
The Jakarta Post reported that, Coal miner PT Supra Bara Energi says it has secured a US$20 million loan facility from BNP Paribas to buy heavy equi ...
Friday, 09 September 11
CAPESIZE CAN SECURE USD 17-18K SHORT PERIOD - FEARNBULK
Handy
The US Gulf has remained relatively steady, slightly more activity in the South Atlantic with owners aiming for low to mid USD 20k´s f ...
Thursday, 08 September 11
UKRAINES COAL PRODUCTION TO RISE 8% - IFANDP
Industrial fuels & power reported that, Ukraine will increase its coal output by about 8% this year compared to last year, said the country&rsqu ...
Thursday, 08 September 11
DRY BULK MARKETS RALLY COMES TO AN END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected by analysts and shipbrokers alike, the latest rally of the dry bulk market came to a halt yesterday, with the Baltic Dry Inde ...
Thursday, 08 September 11
TRADA MARITIME BUYS GUNUNG BARA UTAMA
Insider Stories reported that, PT Trada Maritime Tbk (TRAM) has purchased convertible bonds issued by PT Awesome Coal from Zakia Limited. The memora ...
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- Edison Trading Spa - Italy
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- Commonwealth Bank - Australia
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
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- AsiaOL BioFuels Corp., Philippines
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- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Eastern Coal Council - USA
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- Deloitte Consulting - India
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- The University of Queensland
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- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
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- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
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- Baramulti Group, Indonesia
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- CIMB Investment Bank - Malaysia
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- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
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- Africa Commodities Group - South Africa
- Economic Council, Georgia
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- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
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- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
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- Neyveli Lignite Corporation Ltd, - India
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- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Planning Commission, India
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- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Coal and Oil Company - UAE
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- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Parliament of New Zealand
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- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
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- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
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