GVK obtains state nod for A$9.9-bn OZ coal project

Written by fe Bureau | Mumbai | Updated: May 30 2012, 06:08am hrs
GVK, a diversified Indian infrastructure player, has received environmental clearance for the Alpha Coal and Rail Project in Queensland, Australia, said a company statement after receving the Queensland Coordinator Generals Report on the same.

In 2010, GVK purchased a controlling share of Hancock Prospectings Galilee Basin coal mines in Australia, and 100% of the rail and port assets. GVK invested in three mines (Alpha, Alpha West and Kevins Corner) with total resources of 8 billion tonne of thermal coal in addition to the rail and port facilities, said the statement. In 2011, GVK Hancock delivered the first (and only Galilee Basin) bulk samples from its Alpha site to power stations in South Korea and China, it added.

The Alpha Coal Project consists of a 30 million tonne per annum (mtpa) mine, a 495-km standard gauge railway with 60mtpa approvals and a terminal and two berths at Abbot Pointm catering to at least 60mtpa of thermal coal destined for Asian markets.

GVK said in a statement, The Alpha project (mine, rail and port) alone, will create, during construction, over 4,000 jobs at peak, at the mine site, 50 km northeast of Alpha township, on the railway and at the port at Abbot Point, 25 km north of Bowen. The $10-billion project will generate 1,800 permanent jobs across the mine, rail and port".