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Amdavad News

Move comes after it failed to attract investors due to growing protests against the project The Adani Group has resorted to “self-financing” of the rail haulage works for the Carmichael coal mine and rail project in Queensland’s Galilee Basin with its ports unit — Adani Ports and Special Economic Zone Ltd (APSEZ) — setting up an Australian subsidiary to finance, build and run the rail link estimated at about $350 million. The Adani Group’s move to involve APSEZ directly in financing and operating the rail haulage link is reflected in the latter’s books, which list Bowen Rail Company Pty Ltd — the new Australian unit — as a subsidiary, held via a Singapore subsidiary, Bowen Rail Operation Pte Ltd....

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