May 31st 2012GVK, one of India's major diversified infrastructure companies, has received the Queensland Coordinator General's Report on the environmental clearance for the Alpha Coal and Rail Project in Queensland.
The milestone is a major achievement for GVK and its Alpha Project is now the only Galilee Basin proponent with an approved Environmental Impact Statement (EIS).
After having agreed general terms in December 2010, GVK invested in three mines (Alpha, Alpha West and Kevin's Corner) with total resources of 8 billion tonnes of thermal coal in addition to the rail and port facilities.
The Alpha Coal Project consists of a 30 million tonnes per annum (mtpa) mine, a 495km standard gauge railway with 60mtpa approvals and a terminal and two berths at Abbot Point catering for at least 60mtpa of thermal coal destined for Asian markets.
Dr. GVK Reddy, Chairman and Managing Director, GVK said:
"I am tremendously proud of the hard work our team at GVK has put into achieving this milestone which now paves the way for us to complete financing and secure final mining approvals for the Alpha Project in the second half of 2012.
"I would like to acknowledge the Queensland government for their efforts in making this happen within a few months of their winning the elections. We remain committed to developing our world class projects in a timely and responsible manner and ultimately bring widespread benefits to this great state."
The Coordinator General's report is a major step in finalising the regulatory requirements and enables us to fast track the completion of key construction and operations contracts.
The infrastructure developed by this project - such as the rail, port and power will ‘benefit other local developments'.