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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, 06 September 11
SEMEN GRESIK TO ACQUIRE COAL MINE FOR RP. 1 TRILLION
COALspot.com - PT Semen Gresik Tbk (SMGR) is planning to acquire a low calorific value coal concession (IUP). According to Semen Gresik, the coal mi ...
Tuesday, 06 September 11
DRY BULK MARKETS RALLY POWERS THROUGH TO NEW WEEK, BUT A CORRECTION COULD BE OVERDUE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s freights rates kept leaping forwards during the beginning of the week, with the industry’s benchmark, the Baltic D ...
Monday, 05 September 11
TNPL POSTPONES BID OPENING UNTIL 12 SEPTEMBER 2011
COALspot.com - TNPL has postponed submission of the offer until 12 September 2011 on request from the supplier, an Indian trader said.
Due to Ram ...
Monday, 05 September 11
INDONESIAN COAL BENCHMARK PRICE - ANALYSIS
Analyst : Sunil K Kumbhat
COALspot.com - As a part of the Government’s efforts to stop transfer pricing abuses which have resulted in the los ...
Saturday, 03 September 11
FEW SHIPS REPORTED FIXED FROM INDONESIA TO INDIA - VISTAAR
COALspot.com - The freight market continued the upward trend during last week with BDI up by about 13 pct closing at 1,740 points and cape index up ...
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- Petrochimia International Co. Ltd.- Taiwan
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- MS Steel International - UAE
- Larsen & Toubro Limited - India
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- Interocean Group of Companies - India
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- Bukit Asam (Persero) Tbk - Indonesia
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- Electricity Authority, New Zealand
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Parliament of New Zealand
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- London Commodity Brokers - England
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- Economic Council, Georgia
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- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
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- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
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- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
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- Sical Logistics Limited - India
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- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
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- Merrill Lynch Commodities Europe
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- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
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- PTC India Limited - India
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- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
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