To develop a rail line and a new coal terminal jointly in Australia, GVK Coal Infrastructure (Singapore) Pte Ltd (GVK Hancock) and Aurizon Holdings of Australia have reached an agreement. The two projects are to come up at the Abbot Point Port to unlock the Galilee Basin´s coal resources in Australia. The tie-up is intended to provide sufficient equity and debt funding, including through third party debt finance, for the projects to reach financial closure.
Tag: Australia
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Adani to take up power transmission in Australia
Adani Group in Australia is now aiming to venture into power transmission business. Adani is into coal mining and port operations in Australia and now the Group's Australian arm Adani Mining Pty Ltd has proposed the State government of Queensland to invest $300 million for 250 km long transmission network in the central Galilee Basin where it is promoting coal mining and other infrastructure projects.
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Govt to attract foreign firms to build roads
The Union government is to hold road shows in countries like China and Australia in the next few months to attract foreign companies to take up road construction projects in the country. Road developers in India like GMR, GVK, L&T are staying away from bidding due to fiscal constraints and land acquisition problems.
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The implementation will take some time
India seems to be prepared to take the step into energy efficient technology for waste water treatment, observes Jan Olsen, Director, Aeration Competence Centre (ACC), Siemens (Denmark), talking to Sumantra Das.
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Adani’s Australian port firm to raise $1.2 bn to cut debt
To reduce its debt burden, Adani Abbot Point Terminal Pty Ltd, which owns a coal terminal in Australia, is planning to raise $1.2 billion through multiple debt instruments to refinance the port companyÂ’s borrowings. The port company, owned by Adani Group, has a debt of nearly $2 billion.
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Iron ore shipments from Australia up as China buys more
Cargoes including iron ore shipments from AustraliaÂ’s Port Hedland have increased to China in August. Hedland is worldÂ’s biggest bulk terminal. In August, exports totaled 27.4 million tonne from 26.6 million tonne in July and 22.8 million tonne a year earlier.
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Setting a new mining agenda, Down Under
Economics waits on political change-and by no means in India alone. While the Indian elections next year are widely expected to change the momentum in economic activity, experts in Australia-the largest investor in mining in the world in absolute terms-anticipate a change in government after the federal election this year
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GAIL wants Petronet to renegotiate price of Aussie gas
GAIL India wants Petronet LNG to renegotiate the pricing agreement it signed for importing LNG from Australia's Gorgon project. Petronet LNG signed the agreement in August 2009
and under this, the company would import 1.44 million tonne per annum of liquefied natural gas (LNG) at a
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Gorgon gas import price is too high: Gail
India's biggest gas marketer Gail India said the long-term gas import contract with Australia's Gorgon project for about $15.67 per unit price is too high and does not reflect market reality, prompting the state firm to ask the importer, Petronet LNG (PLL), to renegotiate the contract. Gail's statement follows demands from some energy firms for import-parity price for domestically produced natural gas. These firms criticised the recently approved pricing formula propounded by the the Rangarajan
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Petronet considering GAIL proposal to renegotiate deal
Petronet LNG is said to be considering the proposal to renegotiate the Sale Purchase Agreement for natural gas it decided to source from Gorgon in Australia. GAIL India recently suggested Petronet to renegotiate the contract the latter entered into in August 2009 with Australia on grounds that the scenario changed worldwide since then