Abbot Point will ship coal by 2016: GVK

Written By Unknown on Selasa, 30 Oktober 2012 | 13.23

MINING giant GVK says it is on "record pace" to start shipping coal from Queensland's Abbot Point port by late 2016, despite concerns about its Indian operations.

The Indian-Australian joint venture GVK-Hancock won Queensland government approval in June to build a rail corridor linking the Bowen and Galilee basins with the central Queensland port.

But rival mining magnate Clive Palmer, whose China First project lost out to the GVK-Hancock consortium, has suggested the coal-rail project will never proceed.

GVK has experienced problems in India, where it failed to meet a deadline to develop a coal mine in Jharkhand state.

But Paul Mulder, GVK Resources's manager director of coal and infrastructure, told reporters in Brisbane the problems in India would not affect the Queensland operations.

"You can't presume what trouble the Indian operations had because it was broad-ranging. It wasn't just focused on GVK," he said after addressing a Committee for Economic Development of Australia lunch.

Mr Mulder said coal would be loaded at Abbot Point by about September 2016, three years after final investment decisions were made.

"We think it's realistic," he said.

"For a project of this size and scale, we're doing this at record pace."

But he said delays were inevitable with large projects, as GVK sought regulatory approval and finalised commercial construction contracts.

"If anyone can guarantee they're not going to have project delays, I think they don't understand the requirements of developing mega projects," Mr Mulder said.

"Due to the magnitude, some of the contracting arrangements and finalising appropriate arrangements for our construction have taken a little longer than what we'd hoped."

The $6.4 billion project for the Galilee Basin also includes a mine 40km northwest of Alpha, which lies between Emerald and Barcaldine, and a 495km rail line to Abbot Point, north of Bowen.


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