GVK Power and Infrastructure is likely to finalise a deal to buy coal mines of Australia's Hancock Prospecting soon, according to Mr G.V.K. Reddy, Chairman of GVK Group.
Responding to queries on the outcome of his company's talks with Hancock after the inauguration of India Infrastructure Finance Company Ltd regional office here on Sunday, Mr Reddy said: "The outcome will not be negative. Very soon, we will come out with the deal."
He, however, refused to provide further details citing confidentiality clause of on-going talks.
The coal mines intended to be bought by the Hyderabad-based GVK are located in Queensland, Australia with an estimated reserves of 7.6 billion tonnes.