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. 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. Adani has already invested $3.3 billion in the project with the purchase of a bulk handling terminal at Abbot Point. The company aims to start mining coal from Carmichael by 2020. The project will provide fuel to generate power for 100 million Indians.
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