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Adani Group to finalise investment deal for Australian project by June

Group would be investing in coal and renewable energy sectors in the country

Press Trust of India  |  New Delhi 

Gautam Adani
File photo of Indian billionaire Gautam Adani. (Photo: Reuters)

Indian conglomerate plans to begin extracting from the $16.5 billion Carmichael project in in 2020-21, its Chairman has said.

The Group, which has interests from to power, would finalise by June an investment decision for the project, which has been delayed due to protests from environmental groups.

In an interview to PTI, Adani said his group is not just investing in but also in in Australia, seeking to develop 1,500 MW of solar projects by 2022.

"Like in India, we are investing heavily in in too," he said.

It has signed pacts to build two solar farms, each with capacity of 100-200 megawatts in Queensland and South

Adani said the company has scaled down the mine capacity in the first phase.

Originally seen producing 60 million tonnes a year from six open-cut pits and five underground mines, a scaled-down first stage is now planned to produce 25 million tonnes a year of and will cost over $4 billion. Other phases will come later.

"We will begin work within months of getting final approval from the Australian government," he said.

Projections of a global glut of and prolonged low prices notwithstanding, Adani is pushing ahead with plans to build the mine that would produce thermal to generate and operate for six decades.

"About 15 million tons of produced from the project (in the northern Australian state of Queensland) will be shipped to for generating electricity," he said.

The group has for more than five years battled opposition from green groups who are opposed to any expansion of the port, saying it will cut into the Great Barrier Reef World Heritage Area. The port is to be used for exporting to

"A port already exists with capacity to handle phase-one coal," he said adding a rail line will have to be built for transporting from the mines to the port.

The group has so far invested Australian dollar 3.4 billion on the Abbot Point port and preparatory work for the Carmichael mine. It has applied for an Australian government agency loan to finance the railway line.

Adani said he is expecting Australian federal and state government nods for the project soon.

The entered in 2010 with the purchase of the greenfield Carmichael mine in the Galilee Basin in central Queensland, and the Abbot Point port near Bowen in the north.

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Adani Group to finalise investment deal for Australian project by June

Group would be investing in coal and renewable energy sectors in the country

Group would be investing in coal and renewable energy sectors in the country
Indian conglomerate plans to begin extracting from the $16.5 billion Carmichael project in in 2020-21, its Chairman has said.

The Group, which has interests from to power, would finalise by June an investment decision for the project, which has been delayed due to protests from environmental groups.

In an interview to PTI, Adani said his group is not just investing in but also in in Australia, seeking to develop 1,500 MW of solar projects by 2022.

"Like in India, we are investing heavily in in too," he said.

It has signed pacts to build two solar farms, each with capacity of 100-200 megawatts in Queensland and South

Adani said the company has scaled down the mine capacity in the first phase.

Originally seen producing 60 million tonnes a year from six open-cut pits and five underground mines, a scaled-down first stage is now planned to produce 25 million tonnes a year of and will cost over $4 billion. Other phases will come later.

"We will begin work within months of getting final approval from the Australian government," he said.

Projections of a global glut of and prolonged low prices notwithstanding, Adani is pushing ahead with plans to build the mine that would produce thermal to generate and operate for six decades.

"About 15 million tons of produced from the project (in the northern Australian state of Queensland) will be shipped to for generating electricity," he said.

The group has for more than five years battled opposition from green groups who are opposed to any expansion of the port, saying it will cut into the Great Barrier Reef World Heritage Area. The port is to be used for exporting to

"A port already exists with capacity to handle phase-one coal," he said adding a rail line will have to be built for transporting from the mines to the port.

The group has so far invested Australian dollar 3.4 billion on the Abbot Point port and preparatory work for the Carmichael mine. It has applied for an Australian government agency loan to finance the railway line.

Adani said he is expecting Australian federal and state government nods for the project soon.

The entered in 2010 with the purchase of the greenfield Carmichael mine in the Galilee Basin in central Queensland, and the Abbot Point port near Bowen in the north.
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Business Standard
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Adani Group to finalise investment deal for Australian project by June

Group would be investing in coal and renewable energy sectors in the country

Indian conglomerate plans to begin extracting from the $16.5 billion Carmichael project in in 2020-21, its Chairman has said.

The Group, which has interests from to power, would finalise by June an investment decision for the project, which has been delayed due to protests from environmental groups.

In an interview to PTI, Adani said his group is not just investing in but also in in Australia, seeking to develop 1,500 MW of solar projects by 2022.

"Like in India, we are investing heavily in in too," he said.

It has signed pacts to build two solar farms, each with capacity of 100-200 megawatts in Queensland and South

Adani said the company has scaled down the mine capacity in the first phase.

Originally seen producing 60 million tonnes a year from six open-cut pits and five underground mines, a scaled-down first stage is now planned to produce 25 million tonnes a year of and will cost over $4 billion. Other phases will come later.

"We will begin work within months of getting final approval from the Australian government," he said.

Projections of a global glut of and prolonged low prices notwithstanding, Adani is pushing ahead with plans to build the mine that would produce thermal to generate and operate for six decades.

"About 15 million tons of produced from the project (in the northern Australian state of Queensland) will be shipped to for generating electricity," he said.

The group has for more than five years battled opposition from green groups who are opposed to any expansion of the port, saying it will cut into the Great Barrier Reef World Heritage Area. The port is to be used for exporting to

"A port already exists with capacity to handle phase-one coal," he said adding a rail line will have to be built for transporting from the mines to the port.

The group has so far invested Australian dollar 3.4 billion on the Abbot Point port and preparatory work for the Carmichael mine. It has applied for an Australian government agency loan to finance the railway line.

Adani said he is expecting Australian federal and state government nods for the project soon.

The entered in 2010 with the purchase of the greenfield Carmichael mine in the Galilee Basin in central Queensland, and the Abbot Point port near Bowen in the north.

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Business Standard
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