Ashurst has announced its appointment to act for GVK on the project financing and development of the “world class”, $6.4bn Alpha Coal Project in central Queensland.
Ashurst has been advising on the Alpha Coal Project since its inception in 2008. In late 2011, GVK, a leading Indian conglomerate with diversified interests across a range of sectors including energy & resources and transport, acquired a majority interest in the project. Ashurst has now been appointed by GVK to act on the financing and development aspects of the project after a competitive tendering process.
The Alpha Coal Project includes two 60 million tonne thermal coal mines in the Galilee Basin, a 495km rail line and a coal terminal at the Abbot Point port.
According to Ashurst’s lead partner on the project Tony Denholder: “Alpha Coal will be the largest coal project of its kind in the southern hemisphere, including the largest privately owned railway (495km) in Australia. This is truly a world class project.
“The global footprint and unique capabilities of the international Ashurst team were instrumental in our firm being appointed by GVK.
“The timing of our combination with Ashurst enabled us to offer a single firm approach with the global capability necessary for a project of this scale.”
According to Mr Denholder, the Alpha Coal Project has made more progress towards development approval than several other planned projects in the untapped Galilee Basin.
Ashurst’s appointment will continue until the project is successfully delivered in 2013.
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