GVP Power is in the limelight today morning, figuring amongst the top gainers on the BSE. It is currently up 5% at Rs.10.50, its intra day high point.

The stock is in the green after the company stated that it has won the environmental permit for its Australian coal project, Alpha. This means the company is now inching closer to once again begin work on its much delayed US$ 10 billion mine, rail and port project.

GVK''s Alpha Coal Mine is located in the Galilee Basin with the first coal lot expected to be extracted by 2016. When fully commissioned, the mine will produce 32 million tonnes of thermal a year of low ash, low sulphur coal for export to the Asian market.