GVK to sell small stake in Alpha Coal

GVK Group plans to sell a minority stake in Australia's Alpha coal projects, which it had purchased from Hancock Prospecting Pty as part of a $1.26 bn deal. The company had bought 79 per cent in the Alpha and Alpha West projects in Queensland in September. It is now seeking to raise funds to develop the mines and the transport infrastructure that may cost as much as $10 bn.Contact: GVK Group. Tel: 040-2790 2663.  Fax: 040-2790 2665. E-mail: info@gvk.com Website: www.gvk.com