Indian Infrastructure major GVK announced today that it has received environment clearance from the government in the Australian state of Queensland for its $10 billion Alpha Coal and rail project in Galilee Basin.

Eh initial approval from the state authorities is an achievement for the Indian company behind the project, which is believed to be one of the biggest coal projects in the country. The company said in statement that it s now the only Galilee Basin proponent with an approved Environmental Impact Statement (EIS).

The project is expected to create as many as 4,000 jobs at its peak and will be managed by Hancock Coal, in which GVK owns a 79 per cent stake. The remaining 21 per cent of the company is owned by Gina Rinehart, who is the richest women in the world. The Indian company had paid $1.26 billion to acquire coal assets and other related infrastructure in Australia from Hancock through group company GVK Coal Developers (Singapore).

GVK Chairman and Managing Director GVK Reddy said that the approval will allow the company to complete the financing and get other mining related approvals for the Alpha Coal project. "We remain committed to developing our world class projects in a timely and responsible manner and ultimately bring widespread benefits to this great state," Reddy said.