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Gautam Adani secures milestone in planned USD 16 billion Australian coal project

Adani Enterprises Ltd Reached A Landmark On Monday In Its Bid To Build A Controversial $16 Billion Coal Project In Northern Australia

News Nation Bureau | Edited By : Gautam Lalotra | Updated on: 05 Dec 2016, 02:27:14 PM
Gautam Adani - File Photo

New Delhi:

Adani Enterprises Ltd reached a landmark on Monday in its bid to build a controversial $16 billion coal project in northern Australia, winning approval for part of a rail link to service the planned mine. 

As per the report in leading financial journal, the mine has now secured all major state and federal government approvals, said the Queensland state government, whose premier will meet with chairman and founder Gautam Adani in the northern city of Townsville on Tuesday. 

Adani was also expected to meet with Prime Minister Malcolm Turnbull on Monday, amid local media speculation the federal government could contribute A$1 billion ($740 million) in rail funding. 

"I do expect to meet Mr Adani and I have got no doubt we will be discussing his proposed substantial investment in Queensland," Turnbull told reporters in Melbourne. 

The Carmichael mine has faced years of legal delays and rollercoaster coal prices, amid strident opposition from environmentalists opposed to coal mining and concerned at the impact the mine will have on the Great Barrier Reef. 

Adani said in October he was preparing to start construction of the mine in 2017, although it still faces several court challenges and appeals.

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First Published : 05 Dec 2016, 02:22:00 PM

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