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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, 08 September 11
PETROSEA ADDS US$730 MIO CONTRACT
Coal mining contractor PT Petrosea Tbk (PTRO), a majority owned subsidiary of energy integrated company PT Indika Energy Tbk (INDY), has secured a U ...
Wednesday, 07 September 11
ANOTHER EXCEPTIONALLY STRONG WEEK FOR THE CAPESIZE MARKET - BRS
The very strong rise in Cape rates pushed through an overall improvement in the BDI this week, although relatively little benefit from the Capes has ...
Wednesday, 07 September 11
INDIA HIT BY INDONESIAS COAL PRICE - TEMPO INTERACTIVE
TEMPO Interactive, an Indonesian online news portal reported that, The Indian government has complained about the price increase of Indonesian coal, ...
Wednesday, 07 September 11
SAMPUR POWER AGREEMENT SIGNED - DAILY NEWS
Daily News, Sri Lank's national news paper reported that, the agreement for the setting up of a 500 MW coal-fired power plant at Sampur, Trincomale ...
Tuesday, 06 September 11
INDONESIAS PROPOSED COAL EXPORT BAN MAY HAVE IMPACT ON THE INDIAN POWER SECTOR - DIPESH DIPU
COALspot.com - This is a special interview about Indonesian proposed coal export ban by 2014, with Mr. Dipesh Dipu, Director of Deloitte Touche Tohm ...
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- Dalmia Cement Bharat India
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- International Coal Ventures Pvt Ltd - India
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- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
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- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
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- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
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- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
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- The State Trading Corporation of India Ltd
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- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
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- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
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- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
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- GMR Energy Limited - India
- The University of Queensland
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- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
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- Parliament of New Zealand
- Heidelberg Cement - Germany
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- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
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- Indika Energy - Indonesia
- New Zealand Coal & Carbon
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- Indian Energy Exchange, India
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- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
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- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
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- Orica Australia Pty. Ltd.
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- Merrill Lynch Commodities Europe
- VISA Power Limited - India
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- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
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- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
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- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
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- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
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- Price Waterhouse Coopers - Russia
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- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
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- Coal and Oil Company - UAE
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- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
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- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
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