04/10/06 – FINAL APPROVAL GRANTED FOR WEST FIELD

International Power Hazelwood (IPRH) has announced that final approval has been granted to access the coal in the Hazelwood West Field Mine Development.

International Power’s (IPR) Board of Directors has formally endorsed Phase 2 of the development – called the Rivers & Roads Relocation (RRR) project – finalising a seven-year mine planning and approval process.

IPRH’s Chief Executive Officer, Mr Graeme York, welcomed the decision.

“We are delighted with this final approval and I am confident that the Hazelwood business can successfully deliver the project on time and on budget,” he said.

Mr York said gaining all the external formal planning approvals involved, “intense planning, negotiation and some compromise.”

“Our efforts will be focused on ensuring the business remains viable. We can achieve business success, but every employee will have a part to play in further developing the business through this complicated phase.”

Mr York is confident the full approval of Hazelwood West Field Mine Development will provide a timely boost to the business.

“We can reflect with some pride on the hard work of so many people to deliver a development project that secures our valuable coal supply,” he said.

The announcement came as IPRH celebrated its first 10 years as a private business.

“Our mine development project has attracted a huge amount of public support and we’d like to thank the local community. It has been very reassuring that most people appreciate the benefits of supporting a vibrant power industry and the associated economic wealth it creates for Gippsland, Victoria and Australia,” Mr York said.

Construction on the RRR project will now commence in December this year.

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