Australian govt grants environmental clearance to GVK project

Company had acquired a 100% stake in the Kevin's Corner project and a 79% stake in the Alpha Coal and Alpha West Coal projects

Australian Federal Government has granted environmental approval for GVK's Kevin's Corner Project in Queensland, the city-based infrastructure major said today.

In late 2011, GVK had acquired a 100% stake in the Kevin's Corner project and a 79% stake in the Alpha Coal and Alpha West Coal projects from Hancock Prospecting Pty. Ltd.

GVK Reddy, Founder Chairman and Managing Director, GVK Power and  Infrastructure Limited, said the company commends the Federal Government on its thorough environmental assessment process and its decision to approve this significant project that will create immense employment opportunities.

"This approval comes as a major milestone towards our goal of becoming the premier and most reliable coal supplier to the world thus enabling better lives. It further strengthens our commitment to deliver world-class infrastructure projects in a timely and responsible manner," Reddy said.

Following a rigorous and thorough assessment process by two levels of government spanning five years, Federal Environment Minister Greg Hunt gave an approval decision to construct and operate Kevin's Corner Coal Mine, 50 kms north of the town of Alpha in Queensland, GVK said in the release.

In a timely and considered decision, the Minister finely balanced the protection of environment with the need for economic investment and job creation, it said.

The Kevin's Corner Project is an advanced coal project and has a mine life in excess of 30 years with a capacity to produce up to 30 million tonne per annum of export quality thermal coal.