GVK’s Oz coal project making progress

Starts application for ‘material change of use’ engaging landlords

Hyderabad: GVK on Thursday said that its Australian subsidiary GVK Hancock has commenced a ‘Material Change of Use’ (MCU) application, the next step to finalise the planning for rail infrastructure development connecting its Galilee Basin coal deposits with export markets.

It has to develop an approximate of 310 kilometers of rail corridor in the initial phase, after extensive planning and hydrological assessments.

The MCU application follows from the grant by State environmental approval which it has received in May 2012, Federal environmental approval in August 2012 and of Galilee Basin State Development Area in June 2014.

According to company statement, under MCU application, GVK Hancock will continue to work with the landholders to ensure detailed planning which has been presented to each specific property in the past and give access to homesteads, stock feeding areas and water supply.

Till date, the project team has undertaken an extensive assessment of the landholder engagement process for infrastructure along with approval of rail corridor which connects the southern end of the Galilee Basin. Further, the company said that it has successfully negotiated term sheets with the landholders for around 75 per cent of the rail corridor and outlines the commercially viable terms for the acquisition and compensation of the land.

The initial stage of rail development, which is approximately 310 kilometers of the proposed 500 kilometers, will be constructed before connecting to the existing Aurizon infrastructure, a joint venture agreement with Aurizon to develop the required rail and port infrastructure.