Australian coal companies have had it easy attracting interest from India – and indeed China – for the resources they so desperately need for their ambitious growth targets.
Now it appears India is joining in on the party in Australia. GVK Power and Infrastructure has opened up interest in its Galilee Basin projects to equity bidders and has already attracted almost 20 names. And while another bid for New Hope appears less likely, given GVK vice-chairman Sanjay Reddy has his hands full with the assets purchased from Gina Rinehart, New Hope boss Robert Millner appears unconcerned, with a number of bidders said to have made the second round.
Business Spectator
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