GVK the prominent name in infrastructure, power, roads and of course the prestigious Shamshabad Airport in Hyderabad, has another feather in its cap.
GVK group bags the prestigious awards as ‘Asia Deal of the year‘and the ‘Asia Outbound Investor of the year’ at the 8th annual Asia Mining Congress at Singapore. India’s ace infrastructure developer has been awarded for its acquisition of the Australia-based Hancock Coal and infrastructure projects for USD 1.26 billion.
The company circulated an official communiqué in this regard on Thursday from its headquarters in Hyderabad. GVK was nominated alongside peers such as China Minmetals, Adani, Aluminium Company of China (Chalco), Coal India, Shougang Corporation, Mitsubishi Development, NMDC and China-Africa Development Fund. Last year GVK agreed to acquire high quality coal and infrastructure assets in Australia's emerging Galilee Basin from Hancock Coal. The USD 1.26 billion investment by GVK is claimed to be the largest direct investment by an Indian company in an Australian resources project.
Asia Mining Congress organizers, one of the largest mining investment conferences held in Asia said: “GVK has won the award by demonstrating strategic vision and strong leadership for its business and paving a new path for businesses across Asia.”
GVK Reddy, Chairman, GVK said, “The best thing about winning this award is that we are not just representing the Indian business community but we are also creating a new platform for Indian investors.”
GVK is a diversified business house. The Company also has a significant position in services and manufacturing. G V Krishna Reddy, Chairman of the Group epitomizes the GVK culture of making things happen. He is a towering source of inspiration and strength to a Company that is eagerly looking forward to the challenges of the coming millennium. The GVK story began over four decades ago in Infrastructure, and it continues to be its flagship focus. As contractors, GVK commissioned the Nagarjunasagar Dam, the world's largest masonry dam, in the 60s. (With inputs from internet- AarKay)