GVK to keep stake in Australian coal project for now

GVK Power and Infrastructure has no plans as of yet to cut its share in the A$ 10 billion Alpha coal project in Australia's Queensland state, GVK Chairman GVK Reddy said on Wednesday.

October 17, 2012 / 18:37 IST

GVK Power and Infrastructure has no plans as of yet to cut its share in the A$ 10 billion Alpha coal project in Australia's Queensland state, GVK Chairman GVK Reddy said on Wednesday.

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.

The project has a mine life of more than 30 years, and would produce 32 million tonnes a year.

first published: Oct 17, 2012 03:26 pm

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