GVK gets green approval in Australia

GVK Power and Infrastructure Ltd, a leading infrastructure firm, Friday said it had got environment approval from the Australian government for its Kevin's Corner coal project in Queensland.

The Hyderabad-based firm expects to start construction in 2015 with the first coal being produced in 2018.

The environmental approval marks a major milestone for the project as it faced opposition from groups that claimed that the mine would deplete groundwater.

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

"When combined, the Galilee Basin projects will create one of the largest coal mining operations in the world holding total resources of 8 billion tonne and a peak capacity of around 80 million tonne per annum," GVK said in a statement.

G.V.K. Reddy, founder chairman and managing director of GVK, commended the federal government for its "thorough environmental assessment process" and said the project will create vast 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," he 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.