GVK Group of India decided to acquire collectively plural thermal coal projects and infrastructure projects in Queesland (QLD) from Hancock Coal of Australia. GVK Coal Development (GVKCDPL) of Singapore belonging to GVK Group is to acquire as a whole a) 79% interests each in the Alpha and Alpha West projects, b) 100% interest in the Kevin's Corner project, and c) 100% interest each in railway and port projects related to above thermal coal projects for 1 billion 260 million US dollars. Incidentally Hancock owns the remaining 21% interest in a) continuously.
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