In late 2011, GVK 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.
GVK Reddy, founder chairman and managing director, GVK Power and Infrastructure Limited, said the company commends the Federal Government on its thorough environmental assessment process and its decision to approve this significant project that will create immense 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. It further strengthens our commitment to deliver world-class infrastructure projects in a timely and responsible manner," Reddy said.
Following a rigorous and thorough assessment process by two levels of government spanning five years, Federal Environment Minister Greg Hunt gave an approval decision to construct and operate Kevin's Corner Coal Mine, 50 kms north of the town of Alpha in Queensland, GVK said in the release.
In a timely and considered decision, the Minister finely balanced the protection of environment with the need for economic investment and job creation, it 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.
In August, the Coordinator General of Queensland had cleared the AUD 4.2 billion Kevin Corner Coal Project with certain conditions.
GVK Vice Chairman G V Sanjay Reddy said: "As coal developers, we are uniquely placed, as we possess the Federal and state government approvals that integrate our mine, rail and port projects that will definitely help in the opening up of the Galilee Basin."
Kevin Corner project also represents a total investment of around AUD 42 billion in tax and royalties to the Queensland and Federal governments over the life of the projects.
Kevin's Corner Coal Project is adjacent to GVK's another venture - Alpha Coal Project and both Projects will utilise the same multi-user rail and port facilities.
This is designed so that at a future point, it will have the potential to transport, load and ship capacity greater than the combined production level of both the Kevin's Corner and Alpha Coal Projects.
The Australian Government has already given 'green signal' to USD 10 billion Alpha Coal project that includes a rail line from mine to port.
On November 01, 2013, GVK Power & Infrastructure closed at Rs 8.15, up Rs 0.83, or 11.34 percent. The 52-week high of the share was Rs 15.75 and the 52-week low was Rs 5.52.
The latest book value of the company is Rs 15.84 per share. At current value, the price-to-book value of the company was 0.51.
Anda sedang membaca artikel tentang
Australian govt grants environmental clearance to GVK proj
Dengan url
http://gayafashionshow.blogspot.com/2013/11/australian-govt-grants-environmental.html
Anda boleh menyebar luaskannya atau mengcopy paste-nya
Australian govt grants environmental clearance to GVK proj
namun jangan lupa untuk meletakkan link
Australian govt grants environmental clearance to GVK proj
sebagai sumbernya
0 komentar:
Posting Komentar