GVK dismisses IEEFA report as motivated campaign

A day after US-based body IEEFA slammed GVKs 10 billion Alpha coal project in Australia as a quagmire,not an investment,the Indian infrastructure major today hit back saying it is a motivated campaign by activist groups to discredit coal use.

The activists motivated focus and objective is to deliberately misconstrue facts and mislead with inaccurate data,GVK said in a statement. It termed the report as part of a motivated campaign to discredit the use of coal and to curtail the growth and development in mining,transport and other sectors where infrastructure/construction is required. The Institute for Energy Economics and Financial Analysis raised questions over GVKs proposed 10-billion Alpha coal mine,port and rail project,warning investors that it was uneconomical and represented an unacceptable level of risk to them.

To this,GVK said: We are aware that activist groups have and will continue to misrepresent the way in which the Great Barrier Reef is impacted by coal companies through port development and shipping particularly as GVK has received most of the environment environmental approvals. We continue to also have positive support from Queensland and Federal Government and the communities within which we would be operating Barcaldine Region and Whitsunday Region are keen to see our projects proceed. It added: Underlying polling of the Queensland community also identifies that nearly 80 per cent support mining and the benefits it brings.