Adani Enterprises given final investment approval for its controversial $4 billion Carmichael mine and rail project in Queensland
SYDNEY,June6: Adani Enterprises on Tuesday gave final investment approval for its controversial $4 billion Carmichael mine and rail project 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,” chairman Gautam Adani said in a statement.
The company, which has still to line up funding, plans to build what would be Australia’s biggest coal mine, but has faced opposition from environment groups who argue it will contribute to global warming and damage the Great Barrier Reef.
On Tuesday, Adani said the project would create 10,000 direct and indirect jobs, with pre-construction works starting in the next few months. Coal from the mine will be exported to India.
The Carmichael project is located in the remote Galilee Basin, a 2,47,000 square-kilometre (95,000 square mile) expanse in the central outback that some believe has the potential to become Australia’s largest coal-producing region.
Queensland premier Annastacia Palaszczuk said Australia’s third biggest state had been hit by a resources downturn which has hit mining firms across the country.