Adani Enterprises said on Monday that it will start work in October on its controversial Carmichael coal project in Australia, and first consignment should come after March 2020.
India's mining giant Adani Enterprises said on Monday that it will start work in October on its controversial Carmichael coal project in Australia using A$400 million ($317 million) of its own funds.
However, experts have raised doubts over the fact that whether Adani can fund Australia's biggest coal mine given opposition from green groups and a global backlash to investment in fossil fuels.
"The critical path still involves financing the mine ... there hasn't been resolution to that yet," said CLSA mining analyst Andrew Driscoll.
"We're generally of the view that the global coal market doesn't need new supply."
Meanwhile, being adamant to start the work, the group said that it is expected to ship the first consignment in March 2020.
"We will start construction of the project by October and first coal will come out in March 2020," Adani chairman Gautam Adani said.
Adani Australia Country Head and CEO Jeyakumar Janakaraj said this was yet another example of Adani finally being able to enact long-held plans to benefit Queensland state.
The company has selected the first regional contractor to refurbish its existing exploration camp accommodation.
"Engaging with regional contractors has enabled us to be flexible and quick to get some of our construction infrastructure already operational," Janakaraj said.
Adani Australia's regional content initiatives will have long-term benefits for Queensland, particularly for contractors who help us meet our Indigenous content targets, he said.
Earlier in June, Adani Group Chairman Gautam Adani gave the final investment approval for the Indian conglomerate's controversy-hit 21.7 billion dollars coal mine project in Australia which had hit several roadblocks over environmental concerns.
The Carmichael project has been facing opposition from environmentalists and indigenous groups. The Indian energy giant has for more than five years battled the opposition to any expansion of the Abbot Point port, saying it will cut into the Great Barrier Reef World Heritage Area.
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