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GVK Power secures Australian approval for Queensland coal terminal

10 Oct 2012 Evaluate

GVK Power and Infrastructure has secured Australian government approval for its new Australian $10 billion coal terminal in Australia's Queensland state, with 60 conditions to protect the Great Barrier Reef World Heritage and marine area. The approval permits GVK and its Australian partner, the country's richest person--Gina Rinehart, to expand the existing Port of Abbot Point for the planned Alpha coal project, which was approved in August.

The project is now awaiting a mining lease from the state, crucial for meeting the coal ambitions of GVK, a conglomerate with interests in airports, hotels and transportation. The project could help meet India's huge demand for coal, which feeds two-thirds of the country's power production.

Late in August, the company secured environmental approval for it’s Australian $10 billion Alpha coal and rail project in Australia’s Queensland state, with 19 conditions to protect the environment. The Alpha scheme is the front-runner among several projects in the untapped Galilee Basin in Queensland, where rival Indian group Adani Enterprises is planning a A$10.9 billion coal and rail project. The Alpha project has a mine life of more than 30 years, and would produce 32 million tonnes a year.

GVK Power & Infra Share Price

2.86 0.05 (1.78%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
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