This is an example of the document that Ajoy Garapati send to his victims: Download resume Ajoy Garapati in pdf
January 11th, 2010.
For the attention of Mr. Marc Golden
Please find the following information regarding my overall activities with emphasis in particular on deal making in the areas of Metal Trading and Mining Energy and Real Estate. In brief:-
Metal Trading and Mining (India):-
I have been involved in the business of finance, trading and exchange of metals and minerals from 1983 to presently. Over the past three decades I subsequently gained extensive experience through my exposure with start ups such as LANCO, HANDUNSTAN MAGNETICS Ltd etc. I also made several strategic investments at this time into diverse segments of the mining industry. These assets have included facilities for the extraction of iron ore, bauxite, manganese, quartz, copper, phosphate from sites in Peru, Chile, Brazil, Spain, Russia,Kazakhstan, Kyrgyzstan, India, Morocco, and Algeria. From these countries I have been trading primary metals on the global market.
Out of the profits derived from these transactions, I have further expanded into taking minority parts in obtaining exploratory licenses in these countries and further diversifying my portfolio.
As I have very established relationships as both a buyer and provider with corporations including ALCOA1, MITSUI2, RUSAL3, SUAL4, MMK5, NORILSK NICKEL6, ZINC ASTURIAS, DOE-RUN PERU7, BHP, ATLANTI COPPER, CORUS TRADING9, ARCELOR MITTAL10, ISPAT KARMET11 and JINDAL12 (& many others) I began examining the possibility of the potential for long term investments in base minerals and metals in order to enhance my longevity and margins in metal trading.
Over the last fifteen years I have undergone various speculative ventures in order to enter into the field. In the process, I have succeeded in obtaining twenty-two licenses and concessions primarily in India and in Spain. The mines consist of iron ore, quartz, manganese and bauxite. These mines are ready to be induced into production within ninety days to a maximum of one year. The same licenses with the results of 250 million metric tonnes of medium to high grade mineral. I have negotiated with MILLS in Saudi Arabia, Iran and India for the supply of the minerals in its original form and semi refined in order to ensure the capital expenditures risk (capex) to be neutralised.
Along with the above iron ore, within the same period (between ninety days to one year) we have manganese mines with proven deposits of over five million metric tons. Our company also has licenses pending ratification of environmental clearances, with preliminary approval of said clearances in three different locations in India (with proven deposits exceeding one hundred-fifty million metric tons). These twenty two mining licenses will require the next two to three years to advance into full-fledged licenses; resulting in bringing up all the mines into production.
Future Mining at Rio Tinto, Spain:-
Our involvement with Rio Tinto in the region of Huelva has begun with the purchase of the properties around an existing mine. The existing Rio Tinto mine belongs to a company called EMED traded on the London Stock Exchange, however the acquisition of EMED has not been completed due to a number of problems. We have acquired 1300 hectares consisting of urban, industrial and mining reserves with water for enriching the mined mineral. These areas entered the encircle mine site leaving EMED without of exit. Within our property exist crucial parts of Rio Tinto mines, water resources and the unexploited mining areas. By having this we have strategically captured all the value of the mine minus the existing mineral extracting site that belongs to EMED.
We have a recent valuation of our holdings – note just the part consisting of the industrial, residential and water deposits is valued for over 189 million euros. The valuation does not include the unopened mine deposits. As for the economic analysis done by McKenze, the future value of the mine as per the current rate will be 1.2 billion euros.
Infrastructure in India:-
I have large interests in infrastructural developments in India (mostly as joint ventures).
Firstly I have created AZVI INDIA to participate in the construction of several projects in India from roads, airports, bridges, rail roads, ports, power plants, housing, power generation plants etc. We have already entered into finalising projects to be developed over the next two years which will have a value of approximately 400 million euros.
I also have a joint venture with BRUEDER MANNESMANN AG which is a 50/50 partnership, to develop engineering and the technical aspects of projects for cities and major metropolitan areas, in helping design water/ sewer treatment plants, desalination plants, power generation, etc. These projects form integrated parts of infrastructures development plants drawn by the government of India.
Another involvement in India is with ATHENA, a company committed to work with state governments on projects that benefit national & local needs.
ATHENA is currently involved in one of the largest power generation PPP in India with a 26% stake of state government. It has invested in approx 6.000
MW Hydro and 5.000 MW of thermal powers.
From this involvement it has led to AELOUS, which is promoted by ATHENA INFRAPROJECTS, a leading power project developer in India. The objective is to capitalize on the huge opportunity to develop renewable energy resources in India. We are currently developing wind farms and plan to develop solar farms.
Note the current installed capacity is only 8.7GW while the estimated potential is over 65GW. AELOUS has a target of developing over 900MW of wind farms by 2014 (including development for financial investors).
I am a one third shareholder in Hyundai Heavy Industries Iberica (HHII) for the past three and a half years. We have successfully achieved sales in 2007/2008 of over 60 million euros. The project is forecasted to create an order book to exceed $1 billion dollars here in Europe and North America. This company is involved in primary materials, research & development installing solar, wind and energy generating plants as well as operating them.
The project is now been promoted under the new energy policies in the US with a vision of taking it public under the names of SOLAR ACQUISITION CORPORATION and CLEAN ENERGY with Hyundai retaining a majority shareholding of 51% (note I have one third). The company is in Al Gores
environmental forum with a great future within the US government promoted initiatives.
In 1996 I was one of the main promoters involved in LANCO KONAPALLI POWER LTD and hugely instrumental in obtaining, implementing and executing the project. I later sold interests but continued to maintain good relations and joint ventures for the future. LANCOS expertise spans over power plants based on gas, coal, bio-mass, hydro and wind, irrigation and water supply projects, etc. and its sister company LANCO KONDAPALLI POWER LTD.,which has obtained environmental clearance from the Ministry of Environment and Forests for upgrading its capacity to 1155 MW.
Note in 2008 we have been recognised by the Spanish government as one of the leaders in technology and obtained a government solar efficiency award of 600,000 euros for same.
Lastly some other investments include real estate in the form of land for rezoning, commercial and residential sites plus personal real estate in both Spain and India.
I have been involved in the Real Estate in Spain since 1999. Always buying strategically situated farmland and converting into urban development lands through various associates. The most recent transaction netted a sale of 38 million euros in 2007/2008.
Apart from buying/selling, we currently own other plots of land in Spain and India such as; 1,300 hectares of zoned land of which 300 is already urbanised for residential/leisure development with a todays value of 180 million euros located in Rio Tinto outside Seville.
A cattle ranch property of 1000 hectares zoned for renewable energy and 700 units of housing development in Badajoz, Seville. 30 hectares of land, which is part of the development, plan of Villamanrique Village, Seville.
Residential development land with planning for 309 units at Ayamonte, Huelva 700,000m2 of Commercial/Residential land in Sanjeeva Reddy Naga, India which is alongside a very busy thoroughfare and has a significant value. It is predominantly a residential suburb of Hyderabad city.
100,000m2 of Commercial constructible space in the heart of Hyderabad city, which I negotiated from the Hyderabad, film distributor’s society. This asset has huge potential due its commercial usage and downtown location.
Apart from the latter there are numerous personal properties and farms in Spain (Madrid, Seville, Carmona, Sotogrande and in India some of which are leased, others for personal use.
References can be obtained from any of the following:
1. Alcoa, Inc – primary aluminum (aluminium ) and fabricated aluminum products
2. Mitsui USA – Your Global Business Partner ®
3. United Company RUSAL
6. Norilsk Nickel
7. Doe Run
8. Atlantic Copper
9. Corus – Corus Trading Update
10. ArcelorMittal > Home
11. Ispat-Karmet Steel Works (Mittal Steel Termitau “MST”) [EBRD – Project Summary Document]
12. Welcome To : IUP Jindal
13. Emedco – INNOVATIVE SAFETY & SECURITY SOLUTIONS
Mr. Angel Ortega – President, Tametal
G. Via D.L. Haro, 81
Telephone: +34 944 396 759
Mr. José Maria Irazoqui – President, Metalasa
Pedregal, S/N33199 Grande
Telephone: +34 985 794 645
Mr. Mario Echevarria – MayorSteel
Avda. Amaia, 2
48940 Leica, Vizcaya
Telephone: +34 944 802 141
Mr. Ignacio Cantillana – Garrigues Law Firm
Americo Vespucio, 13
Isla de la Cartuja
Telephone: +34 954 48 93 48
Mr. Xavier Cancer – BNP Paribas
Place de Hollande, 2
1204, Geneva Switzerland
Telephone: +41 58 212 21 11
JTE Finance Ltd.
Mr. Joe T. Eberhard
P.O. Box 9112
CH – 8036 Zurich Switzerland
Telephone. +41 44 2458020
Deutsche Bank SAE
Mr. Antonio Losada
Pº. de la Castellana 18, 4º
28046 Madrid Spain
Telephone: +34 91 3351175
Mr. Yogesh Agarwal
400005 Mumbai India
Telephone: +91 22 22185350
Deutsche Bank AG
Mrs. Asha Mathen
Kothari Building 114, M. G. Road
600034 Chennai India
Telephone: +91 44 66009400
The State Trading Corp. of India Ltd.
Dr. Arvind Pandalai
Jawahar Vyapar Bhawan Tolstoy Marg
110001 New Delhi India
Telephone: +91 11 23701172
Mr. Frank Bodenstein – Alcoa Europe
Avenue Giuseppe Motta 31-33
Ch-1202 Geneva, Switzerland
Telephone: +41 22 919 6153
Mr. G V. Sonnin – Magnitogorsk Iron & Steel Works
Viale Castagnola 21d
Telephone: +41 91 973 59 60
92 Kirov Street
Telephone: (3519) 24 40 09
Any detailed information on any of the latter can be given on request