Adani Group chairman Gautam Adani said the firm will invest $7 billion in Australia in the first phase by 2020 and $9 billion over the next 10 years. Photo: ReutersNew Delhi: Adani Group plans to start work on its $16.5 billion Carmichael coal project in Australia in October, chairman Gautam Adani said, buoyed by the dismissal of appeals filed against the project by Australian activists. “We will start construction of the project by October and first coal will come out in March 2020,” Adani, 55, said in an interview on Friday night. Adani, who ranked 250 in the Forbes World’s Billionaire List 2017 with a net worth of $5.8 billion, linked the controversies to the Carmichael project. The company’s board gave its final go-ahead to the project, Adani said.

Source: Mint August 27, 2017 19:18 UTC