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New UserAdani gets approval for $15.5 bn coal and rail project in Aus
09 May 2014
Energy-to-ports Adani Group today won approval for a massive Aus$16.5 billion (USD 15.5 billion) coal and rail project in Australia's Queensland.
Mumbai-listed Adani Enterprises' Carmichael coal mine and rail project in the untapped Galilee Basin is perhaps the largest in the world.
The mine will produce 60 million tonnes a year of thermal coal used in power stations. The project also includes a 189-kilometer rail line north-west of Clermont.
The Australian state of Queensland today gave approval to the project, deputy premier Jeff Seeney said. The coal mine and rail project in central Queensland will be subject to dozens of environmental and social conditions and still is to get federal government nod.
"This project has the potential to be the largest coal mine in Australia and one of the largest in the world," Seeny said in a statement.
Among the conditions that Adani will have to meet include compensating landholders affected by any harm to water supplies.
Adani welcomed the approval and said it could now move to the next stage of the project. "We remain committed to delivering the multi-billion dollar project," Adani Chairman Gautam Adani said in a statement.
The Indian Group will use Abbot Point port to export 60 million tonnes of coal a year mined from Carmichael using a combination of open-cut and underground mining.
"The project has the potential to create up to 2500 construction and 3900 operational jobs," Seeny said adding "jobs would be significant to the future economic prosperity of that region and to all of Queensland.
"It also includes a 189 kilometre rail line, water supply infrastructure, coal handling and processing plant, and off-site infrastructure including workers' accommodation village and airport".
Source: Reuters