Adani Enterprises Gives Final Investment Approval for Coal Mine Project in Australia
Shital Jibhe / 06 Jun 2017
Adani Enterprises on Tuesday announced that it has given final investment approval for the Carmichael mine and rail projects in Queensland.
Adani Enterprises on Tuesday announced that it has given final investment approval for the Carmichael mine and rail projects in Queensland.
In a statement, Adani Chairman Gautam Adani said, "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".
At an initial cost of $4 billion, the project would pay billions of dollars in royalties and taxes, create jobs and export coal to India. Thus, help in bringing electricity to rural regions.
Trading at Rs 123 per share on the NSE, Adani Enterprises was higher by Rs 5 per share or 4.5% at 0945 hours. The stock of hit an intraday high of Rs. 124 per share since its opening on Tuesday.
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