GVK Coal Project Faces Delays

Reuters reported that Australia’s government may delay approval of a new coal project by India’s GVK Power (BSE:532708).

As quoted in the market news:

The government of Queensland last week gave the go-ahead for GVK’s Alpha project in a move that would normally trigger a 30-day deadline for approval from the national government. But Burke said the new state government was “shambolic” and that its approval fell short of national standards.

Click here to read the full Reuters report.