MELBOURNE: Australia's federal government has given a mega Diwali gift to India's GVK group by approving the gigantic coal mining project in Queensland state in the country's northeast.

Environment Minister Greg Hunt approved the 37,380 hectare Kevin's Corner project Friday.

"We commend the Federal Government on its thorough environmental assessment process and its decision to approve this significant project that will create immense employment opportunities," GVK Reddy, founder chairman and managing director of the Indian conglomerate, said in a media release.

GVK had acquired, according to a company release, a 100 per cent stake in the Kevin's Corner project in Queensland - Australia's second largest state - from Hancock Prospecting and a 79 per cent stake in the Alpha Coal and Alpha West Coal projects.

Source : economictimes.indiatimes.com