India’s Adani gives final approval for $4 billion Australia coalmine
Tue Jun 06 2017
Ray Pierce (785 articles)

India’s Adani gives final approval for $4 billion Australia coalmine

 SYDNEY India’s Adani Enterprises (ADEL.NS) said on Tuesday that it has given final investment approval for the Carmichael mine and rail projects in Queensland.

“The project has Final Investment Decision approval, which marks the official start of one of the largest single infrastructure and job-creating developments in Australia’s recent history,” Adani Chairman Gautam Adani said in a statement.

The company has said the project, at an initial cost of $ 4 billion, would pay billions of dollars in royalties and taxes, create jobs and export coal to India help bring electricity to rural regions.

 

 

 

Ray Pierce

Ray Pierce

Ray Pierce is a Senior Market Analyst. He has been covering Asian stock markets for many years.

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