GVK Power and Infrastructure Limited crossed a major hurdle when it got approval from the federal government of Australia under Environmental Protection and Biodiversity Conservation Act, 1999, for its terminal development at the port of Abbot Point. As a part of A $ 10 billion coal project, the approval permits GVK and its Australian partner, Gina Rinehart, the country’s richest person, to expand the existing port of Abbot Point for its proposed Alpha coal project. Earlier in August 2012, it got the approval for the Alpha mine and rail projects in connection with its Alpha Coal Port Project at Abbot Point. It is said that the authorities have cleared the GVK project on 60 conditions “to protect the Great Barrier Reef World Heritage Area and the marine area”. Referring to the approval from the Government, GVK Vice Chairman, Mr. Sanjay Reddy said in a statement : “ We are the only coal developer in Australia to possess environmental approvals at a state and a federal level that integrate the mine, rail and port”. GVK Chairman Mr.G.V.K. Reddy observed to the Bombay Stock Exchange (BSE) that the development “is yet another milestone toward our goal to be the premier, most reliable coal supplier to the world enabling better lives”.
Thursday, 11 October 2012
GVK gets anxiously-awaited nod for Australian port improvement
GVK Power and Infrastructure Limited crossed a major hurdle when it got approval from the federal government of Australia under Environmental Protection and Biodiversity Conservation Act, 1999, for its terminal development at the port of Abbot Point. As a part of A $ 10 billion coal project, the approval permits GVK and its Australian partner, Gina Rinehart, the country’s richest person, to expand the existing port of Abbot Point for its proposed Alpha coal project. Earlier in August 2012, it got the approval for the Alpha mine and rail projects in connection with its Alpha Coal Port Project at Abbot Point. It is said that the authorities have cleared the GVK project on 60 conditions “to protect the Great Barrier Reef World Heritage Area and the marine area”. Referring to the approval from the Government, GVK Vice Chairman, Mr. Sanjay Reddy said in a statement : “ We are the only coal developer in Australia to possess environmental approvals at a state and a federal level that integrate the mine, rail and port”. GVK Chairman Mr.G.V.K. Reddy observed to the Bombay Stock Exchange (BSE) that the development “is yet another milestone toward our goal to be the premier, most reliable coal supplier to the world enabling better lives”.
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