October 17, 2012 / 9:31 AM / 5 years ago

India's GVK to keep stake in Australian coal project for now: executive

NEW DELHI (Reuters) - India’s GVK Power and Infrastructure (GVKP.NS) 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 G V K 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 metric tons a year.

    Reporting by Malini Menon; Editing by Jo Winterbottom

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