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Adani gives final approval for Australia mine, rail project

Adani Group Chairman Gautam Adani Photograph: (Reuters)

New Delhi, Delhi, India Jun 06, 2017, 02.40 AM (IST)

Gautam Adani-led Adani Enterprises said on Tuesday that it has given final investment approval for the Carmichael mine and rail projects in Queensland.

"The project has final investment decision approval, which marks the official start of one of the largest single infrastructure and job-creating developments in Australia's recent history," Adani Chairman Gautam Adani said in a statement.

The company has said the project, at an initial cost of $4 billion, would pay billions of dollars in royalties and taxes, create jobs and export coal to India help bring electricity to rural regions.

A group of prominent Australians had earlier urged Adani Enterprises to abandon a giant coal mine project near the Great Barrier Reef, warning it could damage bilateral ties and even affect sporting links.

Signatories included former Australian Test cricket captains Ian and Greg Chappell, Pulitzer Prize-winning author Geraldine Brooks, Australian-based British comedian Ben Elton, and rock group Midnight Oil.

(WION with Reuters inputs)


 

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