Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors

Adani clears another legal hurdle for Australian coal project

by | May 25, 2021

coalSydney, (IANS) : India’s Adani Enterprises, after overcoming one of its last legal hurdles, has said the construction of its Carmichael coal project in Australia’s Queensland state will begin in 2017.

Australia’s Federal Court on Monday dismissed an appeal by the Australian Conservation Foundation that had argued that authorities had failed to take into account the impact of burning coal and climate pollution on the Great Barrier Reef, Xinhua news agency reported.

Adani’s $16.5 billion Carmichael coal project in Queensland state’s Galilee basin is the largest in Australia but has suffered multiple setbacks from green groups’ legal action.

Adani Australia, in a written statement on Facebook, said that it had welcomed the Federal Court ruling, adding that the decision closely follows an August 19 dismissal of another activist-driven legal challenge designed to delay the project.

Consistent with earlier decisions of Queensland’s Land Court and the Federal Court affirming the company’s approvals, it has determined that due process has been followed, the statement added.

“A recent report by PwC quantified the cost of these delays as being some 3 billion Australian dollars ($2.26 billion) to the economy and over 1,600 jobs annually over the first 10 years of the intended projects,” it said.

“In local communities, a state and a national economy crying out for growth, this represents a significant cost to the community, not just to Adani.”

The company said it has been consistently pointing out that these projects will supply better quality coal for an increased thermal demand, in conjunction with significantly increased solar demand, in a growing Indian economy that will lift hundreds of millions of people out of energy poverty.

“If the better-quality, better-regulated coal from Australia is not sourced in Queensland, it will simply mean lower quality, higher emitting coal from elsewhere in the world will be used,” Adani said.

“So the activists will not only harm local jobs, but if they get their way (it) would ensure higher emissions as well.”

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *

Recent Posts

Sensex trades lower amid mixed global cues

Sensex trades lower amid mixed global cues

Mumbai: Indian equity indices opened lower on Friday following mixed cues from global markets. At 9.48 a.m., Sensex was down 430 points or 0.52 per cent at 81,771 and Nifty was down 118 points or 0.48 per cent at 25,023. The broader market trend remains positive. On...

Rapido raises USD 200 mn to expand operations, scale tech platform

Rapido raises USD 200 mn to expand operations, scale tech platform

New Delhi: Homegrown ride-sharing platform Rapido on Thursday said it has raised $200 million in its Series E funding, taking its valuation to over $1.1 billion. The funding round was led by WestBridge Capital, and also saw participation from existing investor Nexus,...

Rupee falls 3 paise to settle at 84.01 against US dollar

Rupee falls 3 paise to settle at 84.01 against US dollar

Mumbai: The rupee breached the crucial 84-mark second time within a month and settled 3 paise lower at 84.01 on Wednesday amid a sharp decline in the domestic equity markets as investors stayed away from riskier assets. However, a weak dollar against major...

India’s fintech startups grow fivefold in last three years

India’s fintech startups grow fivefold in last three years

New Delhi: India’s financial sector is growing at a rapid pace as fintech startups have grown by about five times in the past three years, according to a report. The growth has been from 2,100 in 2021 to 10,500 in 2024. JM Financial said in a report: “At present time,...

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *