Online Report Alpha wins approval for $10 bln Aussie coal mine, rail project

Transcription

1 Online Report Alpha wins approval for $10 bln Aussie coal mine, rail project Thu Aug 23, :20am GMT CANBERRA Aug 23 (Reuters) - Australia's Environment Minister Tony Burke on Thursday approved India's GVK Power and Infranstructure's plans for the A$10 billion ($10.4 billion) Alpha coal and rail project in Australia's Queensland state, with 19 conditions to protect the environment. The Alpha project is being run by Hancock Coal, 79 percent owned by GVK and 21 percent owned by Australia's richest person, Gina Rinehart. ($1 = Australian dollars) (Reporting by James Grubel; Editing by Edwina Gibbs)

2 Rinehart's $3b coal mine wins government nod August 23, :10PM The federal government has approved Gina Rinehart's multi-billion dollar Alpha coal mine and its associated rail line in central Queensland. The $6.4 billion GVK-Hancock Coal project slated for the Galilee Basin is co-owned by Indian company GVK and billionaire miner Ms Rinehart. It involves a mine 40 kilometres northwest of Alpha, which lies between Emerald and Barcaldine, and a 495km rail line to Abbot Point, north of Bowen. Federal Environment Minister Tony Burke says the project was granted with 19 strict environmental conditions which would ensure the Great Barrier Reef was protected. He says the process took three months longer than it should have because the Queensland government hadn't properly assessed the environmental risks when it approved the mine in May. "I'm satisfied that we have now put in place the required additional conditions for the protection of the environment," Mr Burke said in a statement. GVK said it was delighted with the decision. "Ultimately, we believe the overall assessment process has resulted in best-practice environmental protection outcomes," chairman GVK Reddy said.

3 The project will be the first coal mine in the resource-rich Galilee Basin and is expected to export 30 million tonnes of coal annually, worth about $3 billion. Mr Burke said the company must take action to offset the impact on threatened species, and draw up plans to minimise stormwater and sediment runoff into the Burdekin Dam and the Great Barrier Reef, among other conditions. (Ms Rinehart is the biggest shareholder of Fairfax Media, publisher of this website.)

4 GVK wins environmental clearance for Aussie projects Alpha coal, rail projects in Queensland worth 10 bn Australian dollars comes as Oz declares end of its resources boom Reuters / Canberra Aug 23, 2012, 09:38 IST GVK Power and Infrastructure won environmental approval for its A$10 billion Alpha coal and rail project in Australia's Queensland state on Thursday, with 19 conditions to protect the environment. The approval came as Australia declared the end of the resources boom that cushioned the country from the global financial crisis, a day after the world's biggest miner, BHP Billito shelved two major expansion plans worth at least $40 billion. 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 Galilee Basin projects have been slow to win clearance, facing opposition from environmentalists concerned about coal burning, port dredging and ship traffic along the fragile Great Barrier Reef, as well as from landowners along the proposed rail route. Environment Minister Tony Burke said the approval included measures to protect Queensland's Great Barrier Reef and threatened species in the area. The Alpha coal project is being run by Hancock Coal, 79 percent owned by GVK and 21 percent owned by Australia's richest person, Gina Rinehart. The Alpha project has a mine life of more than 30 years, and would produce 32 million tonnes a year, GVK Vice Chairman G V Sanjay Reddy said.

5 "This positive decision also paves the way to ensure more than 1.4 billion people (largely in Asia) that face a major shortage of electricity, are provided with an additional source of coal to enhance supply of electricity to the region, thus improving quality of life and overall economic development," he said in a statement. The Alpha project is vital to the coal ambitions of GVK - a conglomerate with interests in airports, hotels and transportation, besides energy - and could help meet voracious appetite for coal in resource-hungry India, where two-thirds of power production is dependent on the mineral. GVK wins approval for $10 bln Aussie coal mine, rail project CANBERRA (Reuters) - GVK Power and Infrastructure won environmental approval for its A$10 billion Alpha coal and rail project in Australia's Queensland state on Thursday, with 19 conditions to protect the environment.

6 The approval came as Australia declared the end of the resources boom that cushioned the country from the global financial crisis, a day after the world's biggest miner, BHP Billito shelved two major expansion plans worth at least $40 billion. 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 Galilee Basin projects have been slow to win clearance, facing opposition from environmentalists concerned about coal burning, port dredging and ship traffic along the fragile Great Barrier Reef, as well as from landowners along the proposed rail route. Environment Minister Tony Burke said the approval included measures to protect Queensland's Great Barrier Reef and threatened species in the area. The Alpha coal project is being run by Hancock Coal, 79 percent owned by GVK and 21 percent owned by Australia's richest person, Gina Rinehart. The Alpha project has a mine life of more than 30 years, and would produce 32 million tonnes a year, GVK Vice Chairman G V Sanjay Reddy said. "This positive decision also paves the way to ensure more than 1.4 billion people (largely in Asia) that face a major shortage of electricity, are provided with an additional source of coal to enhance supply of electricity to the region, thus improving quality of life and overall economic development," he said in a statement. The Alpha project is vital to the coal ambitions of GVK - a conglomerate with interests in airports, hotels and transportation, besides energy - and could help meet voracious appetite for coal in resource-hungry India, where two-thirds of power production is dependent on the mineral. (Reporting by James Grubel; Editing by Clarence Fernandez)

7 GVK s $10 bn coal project gets Australian govt approval The Hindu A file photo of GVK Group Vice-Chairman G.V. Sanjay Reddy. Photo: P.V. Sivakumar The Australian government has given a green signal to GVK Group s $10 billion Alpha Coal project in Queensland. Federal Environment Minister Tony Burke has given an approval to construct and operate the Alpha Coal Mine and a railway line between the mine and the port at Abbot Point, near Bowen, GVK said in a statement. Last year, GVK had acquired 79 per cent stake in the Alpha Coal and Alpha West projects and a 100 per cent stake in the Kevin s Corner project in Queensland from Hancock Prospecting Pty Ltd. Earlier, the Federal Government of Australia had raised objections to the environmental clearance given by the Queensland government to the project. GVK Vice-Chairman G V Sanjay Reddy said this is an important milestone for the projects which will provide significant benefits to the Alpha and Bowen regions. The projects are expected to provide 2,000 on-going jobs in operations directly, employ around 4,000 during construction and return to the government $1.5 billion annually in royalties and taxes at peak production, he said. These projects hold total resources of 8 billion tonnes and a peak capacity of 80 million tonnes per annum.

8 When combined, these projects will create one of the largest coal mining operations in the world, the company said in the statement. The Alpha Coal project has a mine life of over 30 years and a capacity of 32 mtpa which makes it suitable for high production open cut mining. GVK has also acquired a 100 per cent stake in the 500 km rail line and a 60 million tonne per annum (mtpa) port as part of the pit-to-port logistics solution. This positive decision also paves the way to ensure more than 1.4 billion people (largely in Asia) that face major shortage of electricity, are provided with an additional source of coal to enhance supply of electricity to the region, thus improving quality of life of the people and overall economic development, Mr Reddy said. The Queensland government has also selected GVK s Rail Corridor as the north-south corridor for connecting the Galilee Basin to the Port of Abbot Point in Australia. GVK s coal mining project with its superior quality low ash, low sulphur and low gas thermal coal, will be reliably exported mainly to Asian destinations. Construction is expected to start next year with first coal being produced in , the release added.

9 GVK's $10 bn coal project gets Australian govt approval The Australian government has given a green signal to GVK Group's USD 10 billion Alpha Coal project in Queensland. Federal Environment Minister Tony Burke has given an approval to construct and operate the Alpha Coal Mine and a railway line between the mine and the port at Abbot Point, near Bowen, GVK said in a statement. Last year, GVK had acquired 79 per cent stake in the Alpha Coal and Alpha West projects and a 100 per cent stake in the Kevin's Corner project in Queensland from Hancock Prospecting Pty Ltd. Earlier, the Federal Government of Australia had raised objections to the environmental clearance given by the Queensland government to the project. GVK Vice Chairman G V Sanjay Reddy said this is an important milestone for the projects which will provide significant benefits to the Alpha and Bowen regions. The projects are expected to provide 2,000 on-going jobs in operations directly, employ around 4,000 during construction and return to the government $1.5 billion annually in royalties and taxes at peak production, he said. These projects hold total resources of 8 billion tonnes and a peak capacity of 80 million tonnes per annum. When combined, these projects will create one of the largest coal mining operations in the world, the company said in the statement.

10 The Alpha Coal project has a mine life of over 30 years and a capacity of 32 mtpa which makes it suitable for high production open cut mining. GVK has also acquired a 100 per cent stake in the 500 km rail line and a 60 million tonne per annum(mtpa) port as part of the "pit-to-port" logistics solution. "This positive decision also paves the way to ensure more than 1.4 billion people (largely in Asia) that face major shortage of electricity, are provided with an additional source of coal to enhance supply of electricity to the region, thus improving quality of life of the people and overall economic development," Reddy said. The Queensland government has also selected GVK's Rail Corridor as the north-south corridor for connecting the Galilee Basin to the Port of Abbot Point in Australia. GVK's coal mining project with its superior quality low ash, low sulphur and low gas thermal coal, will be reliably exported mainly to Asian destinations. Construction is expected to start next year with first coal being produced in , the release added

11 GVK's $10 bn coal project gets Australian govt's approval PTI Aug 23, 2012, 10.53AM IST HYDERABAD: The Australian government has given a green signal to GVK Group's USD 10 billion Alpha Coal project in Queensland. Federal environment minister Tony Burke has given an approval to construct and operate the Alpha Coal Mine and a railway line between the mine and the port at Abbot Point, near Bowen, GVK said in a statement. Last year, GVK had acquired 79 per cent stake in the Alpha Coal and Alpha West projects and a 100 per cent stake in the Kevin's Corner project in Queensland from Hancock Prospecting Pty Ltd. Earlier, the Federal Government of Australia had raised objections to the environmental clearance given by the Queensland government to the project. GVK vice-chairman G V Sanjay Reddy said this is an important milestone for the projects which will provide significant benefits to the Alpha and Bowen regions. The projects are expected to provide 2,000 on-going jobs in operations directly, employ around 4,000 during construction and return to the government USD 1.5 billion annually in royalties and taxes at peak production, he said.

12 These projects hold total resources of 8 billion tonnes and a peak capacity of 80 million tonnes per annum. When combined, these projects will create one of the largest coal mining operations in the world, the company said in the statement. The Alpha Coal project has a mine life of over 30 years and a capacity of 32 mtpa which makes it suitable for high production open cut mining. GVK has also acquired a 100 per cent stake in the 500 km rail line and a 60 million tonne per annum(mtpa) port as part of the "pit-to-port" logistics solution. "This positive decision also paves the way to ensure more than 1.4 billion people (largely in Asia) that face major shortage of electricity, are provided with an additional source of coal to enhance supply of electricity to the region, thus improving quality of life of the people and overall economic development," Reddy said. The Queensland government has also selected GVK's Rail Corridor as the north-south corridor for connecting the Galilee Basin to the Port of Abbot Point in Australia. GVK's coal mining project with its superior quality low ash, low sulphur and low gas thermal coal, will be reliably exported mainly to Asian destinations. Construction is expected to start next year with first coal being produced in , the release added.

13 GVK s $10 bn coal project gets Australian govt approval Hyderabad: The Australian government has given the green signal to GVK Group s $10 billion Alpha Coal project in Queensland. Federal environment minister Tony Burke has given an approval to construct and operate the Alpha Coal Mine and a railway line between the mine and the port at Abbot Point, near Bowen, GVK said in a statement Last year, GVK had acquired a 79 per cent stake in the Alpha Coal and Alpha West projects and a 100 per cent stake in the Kevin's Corner project in Queensland from Hancock Prospecting Pty Ltd. Earlier, the Federal Government of Australia had raised objections to the environmental clearance given by the Queensland government to the project. GVK Vice-Chairman G.V. Sanjay Reddy said this is an important milestone for the projects, which will provide significant benefits to the Alpha and Bowen regions. The projects are expected to provide 2,000 on-going jobs in operations directly, employ around 4,000 during construction and return to the government $1.5 billion annually in royalties and taxes at peak production, he said. These projects hold total resources of 8 billion tonnes and a peak capacity of 80 million tonnes per annum. When combined, these projects will create one of the largest coal mining operations in the world, the company said in the statement.

14 GVK's Rs 58,000-crore coal project gets Australian govt approval GVK Power and Infrastructure won environmental approval for its A$10 billion (Rs cr) Alpha coal and rail project in Australia's Queensland state on Thursday, with 19 conditions to protect the environment. The approval came as Australia declared the end of the resources boom that cushioned the country from the global financial crisis, a day after the world's biggest miner, BHP Billiton shelved two major expansion plans worth at least $40 billion. 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 Galilee Basin projects have been slow to win clearance, facing opposition from environmentalists concerned about coal burning, port dredging and ship traffic along the fragile Great Barrier Reef, as well as from landowners along the proposed rail route. Environment Minister Tony Burke said the approval included measures to protect Queensland's Great Barrier Reef and threatened species in the area. The Alpha coal project is being run by Hancock Coal, 79 per cent owned by GVK and 21 per cent owned by Australia's richest person, Gina Rinehart. The Alpha project has a mine life of more than 30 years, and would produce 32 million tonnes a year, GVK Vice Chairman G V Sanjay Reddy said.

15 "This positive decision also paves the way to ensure more than 1.4 billion people (largely in Asia) that face a major shortage of electricity, are provided with an additional source of coal to enhance supply of electricity to the region, thus improving quality of life and overall economic development," he said in a statement. The Alpha project is vital to the coal ambitions of GVK - a conglomerate with interests in airports, hotels and transportation, besides energy - and could help meet voracious appetite for coal in resource-hungry India, where two-thirds of power production is dependent on the mineral GVK's $10 bn coal project gets Australian govt approval The Australian government has given a green signal to GVK Group's USD 10 billion Alpha Coal project in Queensland. Federal Environment Minister Tony Burke has given an approval to construct and operate the Alpha Coal Mine and a railway line between the mine and the port at Abbot Point, near...

16 GVK's $10 bn coal project gets Australian govt approval Hyderabad, Aug 23, 2012, (PTI) : The Australian government has given a green signal to GVK Group's USD 10 billion Alpha Coal project in Queensland. Federal Environment Minister Tony Burke has given an approval to construct and operate the Alpha Coal Mine and a railway line between the mine and the port at Abbot Point, near Bowen, GVK said in a statement. Last year, GVK had acquired 79 per cent stake in the Alpha Coal and Alpha West projects and a 100 per cent stake in the Kevin's Corner project in Queensland from Hancock Prospecting Pty Ltd. Earlier, the Federal Government of Australia had raised objections to the environmental clearance given by the Queensland government to the project. GVK Vice Chairman G V Sanjay Reddy said this is an important milestone for the projects which will provide significant benefits to the Alpha and Bowen regions.

17 The projects are expected to provide 2,000 on-going jobs in operations directly, employ around 4,000 during construction and return to the government USD 1.5 billion annually in royalties and taxes at peak production, he said. These projects hold total resources of 8 billion tonnes and a peak capacity of 80 million tonnes per annum. When combined, these projects will create one of the largest coal mining operations in the world, the company said in the statement. The Alpha Coal project has a mine life of over 30 years and a capacity of 32 mtpa which makes it suitable for high production open cut mining. GVK has also acquired a 100 per cent stake in the 500 km rail line and a 60 million tonne per annum(mtpa) port as part of the "pit-to-port" logistics solution. "This positive decision also paves the way to ensure more than 1.4 billion people (largely in Asia) that face major shortage of electricity, are provided with an additional source of coal to enhance supply of electricity to the region, thus improving quality of life of the people and overall economic development," Reddy said. The Queensland government has also selected GVK's Rail Corridor as the north-south corridor for connecting the Galilee Basin to the Port of Abbot Point in Australia. GVK's coal mining project with its superior quality low ash, low sulphur and low gas thermal coal, will be reliably exported mainly to Asian destinations Construction is expected to start next year with first coal being produced in , the release added.

18 GVK gets final green nod for Australian coal project The approval came as Australia declared the end of the resources boom that cushioned the country from the global financial crisis HYDERABAD: In a major relief to India's GVK group and Australia's Hancock Prospecting, the Australian federal government on Thursday granted final environmental approvals to the GVK- Hancock joint venture's A$10b Alpha coal and rail project in Queensland state. GVK owns 79% in the Alpha Coal project, while the balance 21% is held by Australia's richest person Gina Rinehart, who sold the majority stake in favour of the Indian firm in September last year. In a setback to GVK, the project has been hanging fire for nearly three months after the federal government refused accord environmental clearances the project after the Queensland state government cleared it in May. The Australian federal government, which had in June halted clearances following serious concerns expressed by the environmentalist led by global green watchdog Greenpeace, has now prescribed 19 conditions for GVK to protect the environment, while granting final clearances. The Greenpeace led environmentalists have been raising concerns over the adverse environmental impacts on the fragile Great Barrier Reef and threatened species in the area by GVK's Alpha coal, rail and port project.

19 In a statement on Thursday in Hyderabad, GVK said the Australian federal environment minister Tony Burke granted approvals to construct and operate the Alpha coal mine and a railway line between the mine and the port at Abbot Point near Bowen. GVK said the coal mine and railway line projects would provide jobs to some 6,000 people and help the Australian government earn $1.5 billion a year in royalties and taxes at peak production. The GVK group vice chairman GV Sanjay Reddy said, "This is another important milestone for our project which will provide significant benefits to the Alpha and Bowen regions, the state and the country." Further, Reddy said the positive decision of the Australian federal government also paves way to ensure that more than 1.4 billion people, largely in Asia, that face a major electricity shortage are provided with an additional source of coal to enhance electricity supply to the region. The development also paves way to "improving quality of life of the people and overall economic development." In September last year, GVK had bought 79% in the Alpha Coal and Alpha West projects and 100% stake in Kevin's Corner project, the three mines having an estimated 8 billion tonnes of coal resources, in Queensland state from Hancock Prospecting for $1.26 billion. GVK group had also acquired a 100% stake in the 500km railway line and a 60 million tonne a year port as a part of the 'pit-to-port' logistics solution. GVK said the coal mining projects with superior quality low ash, low sulphur and low gas thermal coal will be reliably exported, largely to the Asian destinations and it expects to start project works early next year expecting first coal to be produced in

20 GVK secures federal government nod for Western Australian coal mine, rail project GVK has received approval to construct and operate the Alpha Coal Mine and a railway line between the mine and the port at Abbot Point, near Bowen, the company has said. HYDERABAD, AUG. 23: GVK Power & Infrastructure Ltd has secured environmental clearance for the $10-billion Alpha coal mine project and rail line from the Australian Federal Government. Reacting to the development, the Chairman of GVK group, G.V.K.Reddy, said, "We are delighted with the Federal Government decision. Ultimately, we believe the overall assessment process has resulted in best practice for environmental protection outcome." The approval is a major boost for the GVK group and will enable them to go ahead and close finances for the ambitious project located in the Galilee basin. Several investors have also evinced interest in picking up stake in the project. After the Queensland Government s clearance for the coal mine and rail project, there was some delay in securing the nod from the Federal Government. Greenpeace members had also raised concerns about the project impacting the Great Barrier Reef. However, this is a major boost for the Hyderabad-based diversified infrastructure company. They will not only get into a much bigger league but also be able to take up thermal power projects in India based on Australian coal.

21 The nod comes after a rigourous and thorough assessment process by two levels of Governments spanning four years. The Federal Environment Minister Tony Burke gave his approval for the decision to construct and operate the Alpha Coal Mine project and railway line between the mine and the port at Abbot Point near Bowen. Australian mining tycoon, Gina Rinehart, during here recent visit to Hyderabad, had also expressed confidence that the project will secure the green nod. She also stated that they were willing to pick up stake in the coal project. GVK shares firmed up 2.23 per cent and were trading at at about 11 am. rishikumar.vundi@thehindu.co.in PTI reports: Last year, GVK had acquired 79 per cent stake in the Alpha Coal and Alpha West projects and a 100 per cent stake in the Kevin s Corner project in Queensland from Hancock Prospecting Pty Ltd. GVK Vice-Chairman G. V. Sanjay Reddy said this is an important milestone for the projects which will provide significant benefits to the Alpha and Bowen regions. The projects are expected to provide 2,000 on-going jobs in operations directly, employ around 4,000 during construction and return to the Government $1.5 billion annually in royalties and taxes at peak production, he said. These projects hold total resources of 8 billion tonnes and a peak capacity of 80 million tonnes per annum. When combined, these projects will create one of the largest coal mining operations in the world, the company said in the statement. The Alpha Coal project has a mine life of over 30 years and a capacity of 32 mtpa which makes it suitable for high production open cut mining. GVK has also acquired a 100 per cent stake in the 500-km rail line and a 60 million tonne per annum (mtpa) port as part of the pit-to-port logistics solution. This positive decision also paves the way to ensure more than 1.4 billion people (largely in Asia) that face a major shortage of electricity, are provided with an additional source of coal to enhance supply of electricity to the region, thus improving the quality of life of the people and overall economic development, Reddy said. The Queensland Government has also selected GVK s Rail Corridor as the north-south corridor for connecting the Galilee Basin to the Port of Abbot Point in Australia. GVK s coal mining project with its superior quality low-ash, low-sulphur and low-gas thermal coal, will be reliably exported mainly to Asian destinations.

22 Construction is expected to start next year with first coal being produced in , the release added. GVK s $10-b coal project gets Australian government's approval GVK Group's $-10 billion coal mine project in Australia has received environmental clearance from the Federal Government. PTI reports: The Australian Government has given a green signal to the GVK Group?s $10- billion Alpha Coal project in Queensland. Federal Environment Minister Tony Burke has given an approval to construct and operate the and a _

23 GVK's $10 bn coal project gets Australian govt approval 23 August :31 The Hindu, government has given a green signal to GVK Group's $10 billion Alpha Coal project in Queensland. Federal Environment Minister Tony Burke has given an approval to construct and operate the Alpha Coal Mine and a railway line between the..., htm

24 India's GVK gets environment nod from Australian govt for A$10 bln Alpha coal, rail project Posted: Thu, Aug. 23, :33 AM IST New Delhi: Indian infrastructure major GVK Power and Infrastructure Ltd Thursday said it has got environment clearance from the Federal Government of Australia for its proposed A$10 billion ($9.72 billion) Alpha coal and rail project in Queensland state. Following a rigorous and thorough assessment process by two levels of government spanning four years, Federal Environment Minister Tony Burke gave an approval decision to construct and operate the Alpha coal mine and a railway line between the mine and the port at Abott point, near Bowen, GVK said in a filing to the stock exchanges. The infrastructure major had already received an environmental nod from Australia's Queensland government in May to develop the Alpha coal and rail project. The mine and rail project is estimated to cost the Indian company $6.3 billion and the port project $3.6 billion. In June, media reports from Australia, quoting a minister, had said the Government of Australia has delayed the approval to the Alpha coal project, citing environmental concerns. Under the Alpha coal project, mining can be done for over 30 years, and it would produce 32 million tonnes per annum, GVK Vice Chairman G V Sanjay Reddy said. This positive decision also paves the way to ensure more than 1.4 billion people (largely in Asia) that face a major shortage of electricity, are provided with an additional source of coal to enhance supply of electricity to the region, thus improving quality of life and overall economic development, Reddy said in the statement.

25 The Alpha coal and rail projects will provide 2,000 on-going jobs in operations, directly employ around 4,000 during construction and return to government $1.5 billion per year in royalties and taxes at peak production, he added. The Alpha project is being run by Hancock Coal, 79% owned by GVK. Earlier, in September 2011, GVK Group had acquired Australia's Hancock Coal for $1.26 billion, which is said to be one of the largest overseas acquisitions by an Indian infrastructure entity. The acquisition by GVK was mainly for securing long-term coal supplies for its power projects in India. Shares of GVK Thursday were trading at Rs 12.88, up 2.71%, on the Bombay Stock Exchange at 11:20 am. GVK wins approval for $10 bln Aussie coal mine, rail project Source : Last Updated: Thu, Aug 23, :04 hrs0 Comments GVK Power and Infrastructure won environmental approval for its A$10 billion Alpha coal and rail project in Australia's Queensland state on Thursday, with 19 conditions to protect the environment.

26 The approval came as Australia declared the end of the resources boom that cushioned the country from the global financial crisis, a day after the world's biggest miner, BHP Billito shelved two major expansion plans worth at least $40 billion. 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 Galilee Basin projects have been slow to win clearance, facing opposition from environmentalists concerned about coal burning, port dredging and ship traffic along the fragile Great Barrier Reef, as well as from landowners along the proposed rail route. Environment Minister Tony Burke said the approval included measures to protect Queensland's Great Barrier Reef and threatened species in the area. The Alpha coal project is being run by Hancock Coal, 79 percent owned by GVK and 21 percent owned by Australia's richest person, Gina Rinehart. The Alpha project has a mine life of more than 30 years, and would produce 32 million tonnes a year, GVK Vice Chairman G V Sanjay Reddy said. "This positive decision also paves the way to ensure more than 1.4 billion people (largely in Asia) that face a major shortage of electricity, are provided with an additional source of coal to enhance supply of electricity to the region, thus improving quality of life and overall economic development," he said in a statement. The Alpha project is vital to the coal ambitions of GVK - a conglomerate with interests in airports, hotels and transportation, besides energy - and could help meet voracious appetite for coal in resource-hungry India, where two-thirds of power production is dependent on the mineral.

27 GVK wins approval for Australian coal mine, rail project India Infoline News Service / 10:05, Aug 23, 2012 Reports stated that the approval came as Australia declared the end of the resources boom that cushioned the country from the global financial crisis. GVK welcomes the Federal Government's decision to grant environmental approval for the Alpha Mine and Rail Projects in Queensland, Australia. Following a rigorous and thorough assessment process by two levels of government spanning four years, Federal Environment Minister Tony Burke gave an approval decision to construct and operate the Alpha Coal Mine and a railway line between the mine and the port at Abbot Point, near Bowen. "We are delighted with the Federal Government decision. Ultimately we believe the overall assessment process has resulted in best practice environmental protection outcomes," said GVK Chairman and Managing Director, Dr. GVK Reddy. It may be recalled that the Queensland Government had earlier accorded the environment clearance for the said project in May, GVK's Respect and Commitment for the Environment GVK is a very environmentally responsible company;

28 It has been working with environmental experts, environmental government agencies, landholders and stakeholders for four (4) years (since 2008); A rigorous and detailed environmental assessment process has been followed by GVK in Australia, a country that has one of the highest environmental standards in the world - which GVK fully supports GVK has spent in excess of $25 million specifically on ensuring that its environmental assessment process is of the highest standard; GVK has employed 275 environmental personnel in its study work to ensure that this project has a very high environmental standard and values; and GVK chose to invest in Australia because of its low political risk, coupled with strong environmental and safety standards which align with GVK's corporate philosophy and values. "This is another important milestone for our project which will provide significant benefits to the Alpha and Bowen regions, the state and the country. The projects we are planning will provide 2,000 on-going jobs in operations, directly employ around 4,000 during construction and return to government $1.5bn annually in royalties and taxes at peak production", said GVK Vice- Chairman, G V Sanjay Reddy. GVK has acquired a 79% stake in the Alpha Coal and Alpha West projects and a 100% stake in the Kevin's Corner project in Queensland from Hancock Prospecting Pty. Ltd. These projects hold total resources of 8 billion tonnes and a peak capacity of 80 million tonnes per annum. When combined, these Projects will create one of the largest coal mining operations in the world. The Alpha Coal project has a mine life of 30+ years and a capacity of 32 mtpa which makes it suitable for high production open cut mining. GVK has also acquired a 100% stake in the 500 km rail line and a 60 million tonne per annum port as part of the "pit-to-port" logistics solution. The Queensland Government has selected GVK's Rail Corridor as the north-south corridor for connecting the Galilee Basin to the Port of Abbot Point in Australia. GVK's coal mining project with its superior quality low ash, low sulphur and low gas thermal coal, will be reliably exported mainly to Asian destinations. Construction is expected to start next year with first coal being produced in 2015/16. "This positive decision also paves the way to ensure more than 1.4 billion people (largely in Asia) that face a major shortage of electricity, are provided with an additional source of coal to

29 enhance supply of electricity to the region, thus improving quality of life of the people and overall economic development", said GVK Vice-Chairman, G V Sanjay Reddy. GVK (in accord with its values of being a good corporate citizen) also takes pride in running the largest not for profit medical emergency services organisation in the world that provides ambulance services to over 350 million people in India, with 3,200 Ambulances, employing 18,000 people, taking over 120,000 calls per day, of which 12,000 are emergencies, that results in over 300 lives being saved, every day (with over 280,000 lives being saved to date). GVK wins approval for $10 billion coal mine and rail project in Australia The approval came as Australia declared the end of the resources boom that cushioned the country from the global financial crisis CANBERRA: GVK Power and Infrastructure won environmental approval for its A$10 billion ($10.4 billion) Alpha coal and rail project in Australia's Queensland state on Thursday, with 19 conditions to protect the environment.

30 The approval came as Australia declared the end of the resources boom that cushioned the country from the global financial crisis, a day after the world's biggest miner, BHP Billiton shelved two major expansion plans worth at least $40 billion. 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 Galilee Basin projects have been slow to win clearance, facing opposition from environmentalists concerned about coal burning, port dredging and ship traffic along the fragile Great Barrier Reef, as well as from landowners along the proposed rail route. Environment Minister Tony Burke said the approval included measures to protect Queensland's Great Barrier Reef and threatened species in the area. The Alpha coal project is being run by Hancock Coal, 79 percent owned by GVK and 21 percent owned by Australia's richest person, Gina Rinehart. The Alpha project has a mine life of more than 30 years, and would produce 32 million tonnes a year, GVK Vice Chairman G V Sanjay Reddy said. "This positive decision also paves the way to ensure more than 1.4 billion people (largely in Asia) that face a major shortage of electricity, are provided with an additional source of coal to enhance supply of electricity to the region, thus improving quality of life and overall economic development," he said in a statement. The Alpha project is vital to the coal ambitions of GVK - a conglomerate with interests in airports, hotels and transportation, besides energy - and could help meet voracious appetite for coal in resource-hungry India, where two-thirds of power production is dependent on the mineral.

31 GVK wins approval for $10 bn Aussie coal mine, rail project GVK Power and Infrastructure won environmental approval for its A$10 billion Alpha coal and rail project in Australia's Queensland state on Thursday, with 19 conditions to protect the environment. GVK Power and Infrastructure won environmental approval for its A$10 billion Alpha coal and rail project in Australia's Queensland state on Thursday, with 19 conditions to protect the environment. The approval came as Australia declared the end of the resources boom that cushioned the country from the global financial crisis, a day after the world's biggest miner, BHP Billito shelved two major expansion plans worth at least USD 40 billion. 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 Galilee Basin projects have been slow to win clearance, facing opposition from environmentalists concerned about coal burning, port dredging and ship traffic along the fragile Great Barrier Reef, as well as from landowners along the proposed rail route. Environment Minister Tony Burke said the approval included measures to protect Queensland's Great Barrier Reef and threatened species in the area. The Alpha coal project is being run by Hancock Coal, 79% owned by GVK and 21% owned by Australia's richest person, Gina Rinehart.

32 The Alpha project has a mine life of more than 30 years, and would produce 32 million tonnes a year, GVK Vice Chairman G V Sanjay Reddy said. "This positive decision also paves the way to ensure more than 1.4 billion people (largely in Asia) that face a major shortage of electricity, are provided with an additional source of coal to enhance supply of electricity to the region, thus improving quality of life and overall economic development," he said in a statement. The Alpha project is vital to the coal ambitions of GVK - a conglomerate with interests in airports, hotels and transportation, besides energy - and could help meet voracious appetite for coal in resource-hungry India, where two-thirds of power production is dependent on the mineral. GVK gains 4% on environment clearance for Australia project GVK Power and Infrastructure rallied as much as 4% intraday on Thursday after the company has received federal government's environment clearance for its Alpha Mine and Rail Projects in Queensland, Australia.

33 GVK Power and Infrastructure rallied as much as 4% intraday on Thursday after the company has received federal government's environment clearance for its Alpha Mine and Rail Projects in Queensland, Australia. In a release sent to exchanges, the company said, "Following a rigorous and thorough assessment process by two levels of government spanning four years, Federal Environment Minister Tony Burke gave an approval decision to construct and operate the Alpha Coal Mine and a railway line between the mine and the port at Abbot Point, near Bowen. GVK has acquired a 79% stake in the Alpha Coal and Alpha West projects and a 100% stake in the Kevin's Corner Project in Queensland from Hancock Prospecting Pty. Ltd. These projects hold total resources of 8 billion tonnes and a peak capacity of 80 million tonnes per annum. Alpha Coal Project has a mine life of 30+ years and a capacity of 32 mtpa. At 11:02 hours IST, the share was trading at Rs 12.82, up 2.23% with volumes of 4,47,113 equity shares. Market capitalisation of the company currently stands at Rs 2, crore.