India’s Adani to finalise Australia coal investment

Tara Croser

NEW DELHI: India’s Adani Enterprises said it would finalise an investment decision by June and work on a giant coal mine in Queensland can begin as early as in August despite mounting opposition to the long-delayed project, Indian media reported.

Queensland Premier Annastacia Palaszczuk and a regional mayors have long lobbied Adani to go ahead with the $21.7 billion project.

The controversial Carmichael mine which will be one of the biggest in the world’s biggest has faced tough regulatory and legal hurdles, leading to over six years of delays.

Company chairman Gautam Adani said his board was expecting final approvals from the Australian government by May or June, after which construction could begin.

“We need just about three months from there to actually begin the work on the mine. Which means we can kickstart work from August this year,” Mr Adani told The Press Trust of India.

Coal from the mine would come to Mundra, India, where Adani Australia boss Jeyakumar Janakaraj said it would help electrify the homes of millions of people who still do not have power.