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GVK gets Australian Govt nod to develop Abbot Point Port

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GVK Power and Infrastructure, on Tuesday, announced that it had received the Australian federal government’s approval for the GVK Hancock project’s Abbot Point Port Capital Dredging programme.

The move, according to GVK, finalises the Ministerial environmental approvals for its Galilee Basin coal assets and associated infrastructure. Achieving the final environmental approval from the federal government was a significant milestone towards development of the GVK Hancock Terminal 3 port facilities and coal assets including the Alpha, Alpha west and Kevin’s Corner coal projects, along with the construction of a rail network to Abbot Point.

Together with the previously received clearances for the Alpha mine, the rail to Abbot Point and the EPBC Act approval for the port, the company acquired coal mines in Queensland for $1.26 billion, and had plans to invest close to $10 billion in the infrastructure.

GVK Power chairman G.V.K. Reddy welcomed the approval, claiming that it would help protect environment besides creating jobs and economic investment in the region.

“This approval takes our projects into the final stage of development, and we look forward to successfully developing and consolidating our position as the leading Indian infrastructure development company,” company Vice-Chairman G.V. Sanjay Reddy said.

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Printable version | Jan 25, 2020 11:44:41 AM | https://www.thehindu.com/business/gvk-gets-australian-govt-nod-to-develop-abbot-point-port/article5444690.ece

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