Adani Says Prepared to Work With Rivals on Australia Coal Rail
Adani Enterprises Ltd. (ADE), India’s biggest thermal coal importer that’s seeking approval for a 300 kilometer (186 mile) railroad in Australia, remains prepared to work with groups proposing rival networks.
“Adani is happy to work with other proponents to help transport coal from mine to port,” local unit Adani Mining Pty said today in a statement in response to questions from Bloomberg. Adani is controlled by billionaire Gautam Adani.
Adani decided to proceed with its own project after studying possible joint rail developments with Aurizon Holdings Ltd. (AZJ), G.V. Krishna Reddy’s GVK Group and Waratah Coal Pty, the company said in a submission posted today on the federal environment department’s website. Adani last year signed an initial pact with Aurizon, Australia’s largest haulage company, to study building a rail line to connect the mine to a port.
The rail proposal to transport coal from the Carmichael thermal coal mine to the port of Abbot Point on the Queensland state coast was lodged with the federal government, the company said. Adani bought the project in 2010 and seeks to start output in 2016 from the estimated $6.8 billion development, at a time of mining companies deferring projects due to falling prices.
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