GVK plays down Australian environment minister's stopped clock
IRJ - June 6 - GVK Power and Infrastructure, the Indian group developing the Alpha Queensland coal project, has said "it is committed to norms and confident of a positive outcome" in response to Australian environment minister Tony Burke's publicly stated concerns over granting of mine and rail permits.
Burke said to media that he "stopping the clock on the process which has been given to us by the Queensland government" because of remaining ecological concerns over the $10 billion Alpha coal and rail project, which GVK co-owns in the Galilee basin with Gina Rinehart, the billionaire and mining heiress.
GVK said that, "Minister Burke advising that he is “stopping the clock” by no means is to be interpreted that the project will not proceed, nor is it an indication of the Federal Government's decision."
The Indian coal producer added that requests from federal departments to clarify existing information "is not at all unusual in the process" of acquiring permits.
Analysts quoted in the media have implied that the move by the Australian government is political in nature though the delay is also widely viewed as a blow to the Alpha project against a backdrop of competition from other energy companies and coal shortages in India.
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