The Adani board is expected to approve the project within weeks, subject to financing, and construction should start in August, paving the way for thousands of jobs.
The Adani board is expected to approve the project within weeks, subject to financing, and construction should start in August, paving the way for thousands of jobs. Cameron Laird

Another tick puts Adani a step closer

THE $21billion Adani mega-mine appears certain to go ahead after getting the tick of approval from the company's owner.

At a function in Mumbai, billionaire Gautam Adani was asked if he was confident the board would approve the project.

"Yes, definitely," he told the Courier Mail.

The Adani board is expected to approve the project within weeks, subject to financing, and construction should start in August, paving the way for thousands of jobs.

That should give the State Government a huge boost in the rundown to the election by allowing it to claim it has delivered one of Queensland's biggest mining developments.

Adani has claimed up to 10,000 direct and indirect jobs could be created by the mine, port and rail development, but that has been strongly disputed by the project's opponents.

It will now have to raise about $A3.2b from the banks for the first phase of the development after already sinking billions of dollars into buying land, leases and the Abbot Point port.

Mr Adani expected to seal the funding by May to June.

JOHN McCARTHY


Five things to do this weekend

Five things to do this weekend

Start the school holidays with a bang.

School's out: How teachers spend their holidays

School's out: How teachers spend their holidays

What do our school teachers in the holidays?

Real estate in talks to bring major retailers to Kingaroy

Real estate in talks to bring major retailers to Kingaroy

'We expect commitment from major commercials in the next 24 months.'

Local Partners