 "Adani gets nod from Australian govt to build $1.94 bn rail project")
Melbourne: Indian conglomerate Adani Miningtoday won Australian government’s approval to build a whoppingUSD 1.94 billion rail line for its Carmichael coal mineproject, a “significant milestone” in the company’s operationshere.
Queensland state’s Coordinator General last month hadcleared the way for the Aus dollars 2.2 billion (USD 1.94)300-km rail line called the North Galilee Basin Rail (NGBR)that would link Adani’s Carmichael Coal Mine with Abbot pointcoal terminal.
The 16.5 billion Australian dollars (USD 15 billion) coalproject is expected to provide electricity for up to 100million people in India. The rail line will enabletransportation of 100 million tonnes of coal annually.
After last month’s clearance, the Australian subsidiaryof Adani Enterprises needed the approval of EnvironmentMinister Greg Hunt to proceed with the rail line.
The conglomerate, in a statmeent, today said it hasreceived the final nod for its significant investments inmining and infrastructure in Queensland.“Following on from the Commonwealth Government’sapproval of the Carmichael mine, as well as the QueenslandCoordinator General’s approval of the North Galilee Basin RailProject (NGBR) in August, Adani welcomes today’s announcementof the approval by Environment Minister Greg Hunt of theNGBR,” the company said.
The development follows July’s announcement by Adani ofKorean giant POSCO E&C as the EPC contractor and joint venturepartner on the NGBR and the company’s agreement in August toacquire Linc’s interest in royalties at the Carmichael mine.
Adani said these important milestones all underlined thegrowing confidence in the project as the shift from theapprovals phase to the build phase continues.Welcoming today’s approval for the rail project, AdaniMining CEO and Country Head Jeyakumar Janakaraj said. “Today’s approval is a significant milestone in the life of our integrated mine, rail and port project, helping transition from approvals to the build phase.”
“The minister’s detailed consideration of our rail planand subsequent approval, together with the work done by DeputyPremier Seeney, has ensured Adani is well placed to progressits long term future with Queensland,” Janakaraj said.
“Our long term future with Queensland will mean morethan 10,000 jobs, USD 22 billion in taxes and royalties to thestate, and by helping deliver energy security, will light thelives of millions of Indians,” he said.
NGBR represents a significant milestone forinfrastructure development in Queensland, the statement said.
PTI
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