India's Adani Approves Controversial Australian Coal Project
- Carmichael is largest Australia investment by Indian company
- Adani expects development to create about 10,000 overall jobs
This article is for subscribers only.
India’s Adani Group will proceed with its $16.5 billion Carmichael coal project in Australia’s Queensland state after its board approved a final investment decision on the development.
Adani announced the move Tuesday after last-minute delays due to uncertainty over a royalty deal with the state and amid resistance to the project because of concerns that it will damage the environment. Almost seven years after it applied for the project, contracts have been awarded for mine and rail development and pre-construction work will begin as early as July, the company said in a statement.