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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, 23 September 11
ICMA TO BUILD UPGRADE FACILITIES TO ANTICIPATE BAN ON LOW-GRADE COAL EXPORT BY 2014
COALspot.com - January to August of this year, Indonesia’s coal production had already reached 235 million tons. Earlier estimates had targete ...
Friday, 23 September 11
UT TO PRODUCE 7 MMT OF COAL BY 2012
PT United Tractors Tbk is targeting a 7 million tons of coal production next year, a 55.55% increase from 4.5 millions targeted this year, said Pres ...
Friday, 23 September 11
RECORD RECYCLING ACTIVITY STIRS OPTIMISM IN DRY BULK SAYS BIMCOS ANALYSIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As expected at the start of the year, dry bulk ship owners were expected to flock scrapyards around the world, in order to take advantage of attract ...
Friday, 23 September 11
PANAMAX EXPERIENCED A SOFTENING IN RATES - FEARNLEYS AS
Handy
Still a good boost of fresh cargoes entering the market. Vessels in Black Sea with GOA clearance and Baltic positions are fetching tick abov ...
Wednesday, 21 September 11
INDIA'S COAL IMPORTS FROM INDONESIA FALL, CHINA BUYS MORE
COALspot.com - Indian coal imports from Indonesia fall to below 6 million tons in August, and this fall was continuing last few months. Ho ...
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- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- PTC India Limited - India
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Planning Commission, India
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- The University of Queensland
- Sindya Power Generating Company Private Ltd
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