GVK gets nod for $6.9bn Australian port project

An Indian business conglomerate has won approval from the Australian government to develop the $6.9bn Terminal 3 project at Queensland’s Abbot Point.

GVK Power & Infrastructure Ltd’s expansion of the coal export facility, known as the Alpha Coal Port Project, will serve two coal mines in the Galilee Baisin, and will include deepwater facilities and a 495km gauge railway line.

Port Technology says that high grade thermal coal produced from the site will be exported to North Asia and select GVK power projects in India.

The conglomerate was granted approval by the Department of Sustainability, Environment, Water, Population and Communities (SEWPaC).

GVK chairman Dr. GVK Reddy said: “This development is yet another milestone towards our goal to be the premier, most reliable coal supplier to the world enabling better lives.

“We further believe that we can provide the best quality coal to supply power to developing countries including India.

“Moreover power generation is a great enabler to economic growth and a better standard of living. The development further strengthens our commitment to develop our world-class projects in a timely and responsible manner.”