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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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- Posco Energy - South Korea
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- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
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- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
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- Toyota Tsusho Corporation, Japan
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- Straits Asia Resources Limited - Singapore
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- Planning Commission, India
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Romanian Commodities Exchange
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- Coal and Oil Company - UAE
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- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
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- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- MS Steel International - UAE
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- Independent Power Producers Association of India
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- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
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- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
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- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
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- SMG Consultants - Indonesia
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- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
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- Billiton Holdings Pty Ltd - Australia
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- Kepco SPC Power Corporation, Philippines
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- Ministry of Transport, Egypt
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- White Energy Company Limited
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- Indika Energy - Indonesia
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- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
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- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
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- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
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