GVK gets federal nod for Abbot Point port development

This, thus, finalises ministerial environmental approvals for its Galilee basin coal assets and associated infrastructure

Hyderabad-based infrastructure player, GVK Power and Infrastructure Limited, has received the Australian government’s approval for its Abbot Point port capital dredging programme, finalising the ministerial environmental approvals for its Galilee basin coal assets and associated infrastructure.

Achieving this final environmental approval from the Federal government is a significant milestone towards the development of GVK Hancock’s Terminal 3 (T3) port facilities, and Galilee Basin coal assets including the Alpha, Alpha West and Kevin’s Corner coal projects, along with the construction of a rail solution to the Abbot Point port, GVK said in a filing to the BSE on Tuesday.

Together with the previously received clearances for the Alpha mine, the rail to Abbot Point and the EPBC (Environment Protection and Biodiversity Conservation) Act approval for the port, GVK Hancock has solidified its position in the Galilee Basin in Queensland, Australia, it added. GVK Coal Infrastructure (Singapore) Pte Limited (GVK Hancock) and Aurizon, Australia’s largest rail freight company, had in March this year signed a non-binding term sheet to jointly progress the development of rail and port infrastructure to unlock Galilee Basin reserves, including GVK Hancock’s Alpha, Kevin’s Corner and Alpha West coal mines.

“Finalising the last of our environmental approvals represents the culmination of over 7 years of the most comprehensive and rigorous environmental outcomes,” said GVK Reddy, founder-chairman and managing director, GVK Power.