Search Result for : Adani Group

The Dollar Business Bureau The Indian conglomerate Adani Enterprises Ltd on Tuesday gave final investment nod for the Carmichael coal mines and railway projects in Australia’s Queensland, shifting its focus to raise funds for the project. “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,” Gautam Adani, Chairman, Adani Enterprises said in a statement. Adani hopes to secure a $670 million (A$900-million) loan from the government. The company has said that the estimated initial cost of the project is $4 billion and it would generate billions of dollars in taxes and royalties and create around 10,000 direct and indirect jobs. The coal from the mine will be ...

The Dollar Business Bureau  The Adani Group-Kamarajar Port’s container terminal worth Rs.1,270 crore at the Port is likely to be functional in a month’s time, said a top official on Monday. In March 2014, Kamarajar Port Ltd and Adani Group had inked a ‘concession agreement’ to establish the container terminal at a cost of Rs.1,270 crore in two phases. After completion, the container terminal would have a capacity of handling 1.4 million TEUs (twenty foot equivalent units), with 730 metres quay length. “It is a big achievement for us. It is the first time that Kamarajar Port Ltd is going to handle this kind of project. We expect it to be ready in a month’s time,” M A Bhaskarachar, Chairman and Managing Director of ...

The Dollar Business Bureau Adani Group on Monday signed an agreement with Malaysia’s MMC Ports with the possibility of setting up a multi-purpose port majorly to handle containers at the Carey Island of Malaysia. A memorandum of understanding (MoU) has been signed by Adani Ports with MMC Ports of Malaysia to conduct a feasibility study of Carey Island Port Project as an expansion of the Port Klang, which is presently the world’s 11th busiest container port. Besides, the two sides will have collaboration with Sime Darby Property, the subsidiary of Malaysian multinational Sime Darby Berhad, to conduct a feasibility study to develop an integrated maritime city that will support the new multi-purpose port. In a release to the press Karan Adani, CEO – APSEZ said, “Malaysia ...

PTI A top Adani Group official today met Chief Minister Captain Amarinder Singh and evinced interest in expanding investments in Punjab. President and chairman of several key companies of the Gujarat-based group, Pranav V Adani, met Chief Minister Captain Amarinder Singh here today to discuss possible areas of investment in Punjab. The Group already runs a solar power generation unit in Bhatinda in Punjab and has expressed interest in expanding presence in the state to several other important areas of progress and development, an official spokesperson said after the meeting. The Chief Minister invited Adani to share a brief on the various possible areas of cooperation with the state. Captain Amarinder Singh welcomed the possibility of greater investment by the Group in ...

PTI   An Australian government-owned fund manager company has expressed interest to invest in "infrastructure pieces" of Indian energy giant Adani's $21 billion controversial coal mine project in Queensland.   Chief executive of QIC Damien Frawley said the company, whose major clients include defined benefit superannuation scheme for Queensland public servants, was keen to explore infrastructure opportunities around the state.   Even though the company has not been approached for investment in the Adani's Carmichael coal mine project, QIC has said it would not be interested in the mine itself.   "But the infrastructure pieces of Adani would be interesting for us to explore. If it fitted within the return rates we are seeking," Frawley was qouted as saying by 'The Courier Mail' here.   The indicated area of investment ...

The Dollar Business Bureau A group of eminent Australians on Thursday requested India’s Adani Enterprises Ltd. to discontinue its mega coal mine project close to the Great Barrier Reef, warning the project could damage India-Australia ties. The controversial $16 billion (Aus $21.7 billion) Carmichael mine is scheduled to commence construction this year after Australian and Queensland state governments permitted it to go ahead with the project. The project, however, still faces multiple legal challenges. Australian businessman and environmentalist Geoffrey Cousins has reportedly written a letter to Adani chairman Gautam Adani, urging him to abandon this project. Several prominent Australians including Pulitzer Prize-winning author Geraldine Brooks, former Australian Test cricket captains Greg and Ian Chappell, Australian-based British comedian Ben Elton and rock group Midnight Oil ...

The Dollar Business Bureau Less dependence on the imported coal and the relief in tariff for affected projects is a positive sign for the power sector, however, the timeline for tariff relief implementation is unclear yet, said independent ratings agency ICRA.  “ICRA positively takes note of the order issued by the CERC (Central Electricity Regulatory Commission) approving tariff relief under force majeure for the imported coal-based power projects of Adani Power Ltd (APL) and Coastal Gujarat Power Ltd (CGPL), affected by the change in regulations in Indonesia,” the ratings agency said. However, the implementation of tariff relief order is subject to the nod of the Supreme Court and therefore, timelines are not clear for its implementation, it said. ICRA estimated that the tariff relief, as per ...

PTI Indian mining giant Adani's plan to build one of the world's largest coal mines in Australia got a major boost on Monday as it secured the final approval for a permanent rail line and a temporary construction camp for the 21.7 billion dollars controversy-hit project despite protests.Queensland's Coordinator-General has given "the latest, and final, secondary approval" for about 31.5 kilometres of permanent track, as well as the 300-bed camp.The rail section approved will form part of the 389- kilometre heavy haul railway line from the mine in the Galilee Basin to the Abbot Point port, ABC News reported.State Development Minister Anthony Lynham said the approval was another milestone for the project."Adani has confirmed it will start construction next year," Lynham ...