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GVK gets environmental approval for Alpha project

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GVK has received the Queensland Coordinator General’s Report on the environmental clearance for the Alpha Coal and Rail Project in Queensland. This is a major achievement for GVK since its Alpha Project is now the only Galilee Basin proponent with an approved Environmental Impact Statement (EIS).

After having agreed general terms in December 2010, GVK invested in three mines (Alpha, Alpha West and Kevin’s Corner) with total resources of 8 billion tonnes of thermal coal in addition to the rail and port facilities.

The Alpha Coal Project consists of a 30 million tonnes per annum (mtpa) mine, a 495km standard gauge railway with 60mtpa approvals and a terminal and two berths at Abbot Point catering for at least 60mtpa of thermal coal destined for Asian markets.

Dr. GVK Reddy, chairman and managing director, GVK said, “This now paves the way for us to complete financing and secure final mining approvals for the Alpha Project in the second half of 2012. We remain committed to developing our world class projects in a timely and responsible manner and ultimately bring widespread benefits to this great state.”

The Coordinator General’s report is a major step in finalising the regulatory requirements and enables us to fast track the completion of key construction and operations contracts, he added.

GV Sanjay Reddy, vice chairman, GVK, who is spear-heading the project said, “GVK’s vision is to be the premier, most reliable coal supplier to the world enabling better lives. The EIS is yet another milestone towards this goal and the October 2010 declaration of the rail corridor and signing the port Framework Agreement for T3 at Abbot Point all adds to the advanced nature of the project.”

The infrastructure developed by this project – such as the rail, port and power will benefit other local developments.

In 2011 GVK Hancock delivered the first (and only Galilee Basin) bulk samples from its Alpha site to power stations in South Korea and China.

The Alpha project (mine, rail and port) alone will create, during construction, over 4,000 jobs at peak, at the mine site 50 km north east of Alpha township, on the railway and at the port at Abbot Point, 25 km north of Bowen. The $10 billion project will generate in the order of 1800 permanent jobs for people across the mine, rail and port.

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