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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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Sunday, 18 September 11
THE COAL IMPORTS TO INDIA, OUT OF INDONESIA LIKELY TO PICK UP - CAPT. REDDY
COALspot.com - The freight market continued the upward trend until midweek almost touching 2,000 points, however towards second half of the week the ...
Saturday, 17 September 11
GVK ACQUIRES HANCOCK COAL AND INFRASTRUCTURE FOR US$ 1.26 BILLION
COALspot.com - GVK group, India’s leading infrastructure developer,confirmed arrangements for the acquisition of a strategic part of large, hi ...
Friday, 16 September 11
DELTA DUNIA MAKMUR REMOVED 30.9 MILLION BCM OVERBURDEN IN AUGUST 2011
COALspot.com - PT. Delta Dunia Makmur Tbk has removed 30.9 million bcm (+13.2% YoY) overburden in August 2011 while coal production was at 2.9 ...
Thursday, 15 September 11
RUSSIAN COAL EXPORTS UP 10.9% IN JAN-AUG TO 71.50 MILLION TONS - PORT NEWS / HELLENIC SHIPPING
Port News reported that, Coal exports from Russia in January-August 2011 grew by 10.9% compared with the same period last year, to 71.50 million ton ...
Thursday, 15 September 11
INDIAN GOVT PLANS TO DEVELOP 9 NEW MAJOR PORTS BY 2016 - INVEST MONEY / HELLENIC SHIPPING
The government has announced to make a investment of more than Rs 22,000 crore (approximately US$ 4,623,791,331) to develop nine new major ...
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- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
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- The University of Queensland
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
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- Intertek Mineral Services - Indonesia
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- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
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- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
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- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
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