Aurizon and GVK Hancock Coal Infrastructure have agreed a deal which will allow the development of rail and port infrastructure in Australia’s Bowen Basin.
Aurizon will acquire a majority (51 per cent) interest in the company which owns GVK Hancock’s rail and port projects under the proposed framework.
Aurizon and GVK Hancock are looking to jointly development a $6 billion, 60 million tonnes per annum port and rail project that would underpin the opening of reserves in the Galilee Basin and continued growth of the Bowen Basin.
Dr G V Krishna Reddy, chairman of GVK, said: “This is one of the most significant deals in Queensland’s coal history.
“The development of the rail and port infrastructure will unlock the Galilee Basin and see the development of Alpha, Kevin’s Corner and Alpha West, creating one of the largest integrated coal development projects globally.
“I am sure it will be a win-win relationship leveraging on each other’s strengths in project development and operation.”
The projects comprise a greenfield rail project and a coal terminal at Abbot Point.
GVK Hancock received the primary state and commonwealth environmental approvals for its greenfield rail project in May and August 2012 respectively. GVK Hancock’s port project received Commonwealth environmental approval in October 2012.
