InvestorQ : How do you see the impact of Adani striking coal at its Australia project?
Rashi Mehra made post

How do you see the impact of Adani striking coal at its Australia project?

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Archita Jajjoo answered.
6 months ago
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The Carmichael coal project in Australia may have been in the midst of controversy over the last few years, but the Adani group has gone ahead and struck its first coal from the particular coal mine. In fact, shortly Adani will start shipping coal as it had promised and committed to its clients. This could be big as it is likely to substantially assist Indian power plants to source cheap coal from Australia.

It may be recollected that due to environmental protests several banks in India and abroad had refused to fund the coal project. The Carmichael project has grand plans to produce 10 million tonnes or MT of coal annually. To smoothen the logistics, Adani has also simultaneously developed a rail project to move the coal. To a large extent, this move will ensure coal sufficiency for Indian power plants.

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