Adani to Invest $10-bn in Australian Coalmine, Railroad Project

Indian firm Adani Group will invest $10-billion in Australia to build Queensland State’s largest coalmine, a 500-km railroad, a new township and even a Greenfield airport.

The group has acquired the Carmichael Coal Project with 7.8 billion tones reserves. The Galilee Basin in central Queensland, where the project is located, has a mine life of 100 years, the group said.

"This is the largest ever investment by any Indian company in Australia. The Carmichael Coal Project is also the single largest tenement in Australia in terms of coal resources," says the Adani Group.

As per estimates, the cost of constructing the coalmine would be about $6.5 billion and when production touches optimal level, it will produce some 60 million tons of coal per year — mainly for exports to India.

The Adani group had said that due to the remote location of the mine and excessive road distance for regular commuting, it would like to establish a local township and also construct an on-site airstrip to ferry its work force.