NEW DELHI (Reuters) - India's GVK Power & Infrastructure will pay $1.26 billion for a majority stake in three Australian coal mines and a port and rail project owned by Hancock Group to secure long-term coal supplies for the Indian group's power projects.
The Indian infrastructure group will acquire a 79 percent stake in the Alpha and Alpha West coal mines in the Galilee Basin, and will buy Kevin's Corner coal mine and the rail and port project connecting the coal mines outright, it said in a statement late on Friday.
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