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GVK Power Gets ‘Asia Deal of The Year’ Award

  • GVK Power and Infrastructure Ltd has won the ‘Asia Deal of the year’ and the ‘Asia Outbound Investor of the year’ awards at the eighth annual Asia Mining Congress.The Hyderabad-based diversified infrastructure company was recognised for its acquisition of Hancock Coal and Infrastructure projects located in Australia.In September 2011, GVK announced the move to acquire coal and infrastructure assets in Australia’s emerging Galilee Basin from Hancock Coal. The assets included 79 per cent of the Alpha coal deposits, 100 per cent of the Kevin’s Corner deposit and 100 per cent of the rail and port project.

  • The $1.26-billion investment by the company was the largest direct investment by an Indian company in an Australian resources project. This could help GVK to establish itself as a leading future producer and exporter of Australian coal.The company was nominated alongside peers such as China Minmetals, Adani, Aluminium Company of China (Chalco), Coal India, Shougang Corporation, Mitsubishi Development, NMDC and China-Africa Development Fund. Asia Mining Congress organisers said “GVK has won the award by demonstrating strategic vision and strong leadership for its business and paving a new path for businesses across Asia.”

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