Adanis Acquired Coalmine in Australia

Mar 14, 2011, 05:00 IST

In the first week of August the Adanis announced that they had acquired a major coal asset in Australia for Rs 2100 crore. Flagship Adani Enterprises Ltd (AEL), through Adani Mining Pty Ltd, its Australian subsidiary entered into an agreement with Link Energy Ltd today to purchase 100 per cent interest in its Galilee coal tenement in the Galilee Basin in Queensland.

In the first week of August the Adanis announced that they had acquired a major coal asset in Australia for Rs 2100 crore. Flagship Adani Enterprises Ltd (AEL), through Adani Mining Pty Ltd, its Australian subsidiary entered into an agreement with Link Energy Ltd today to purchase 100 per cent interest in its Galilee coal tenement in the Galilee Basin in Queensland. The Adanis would acquire two new ships from South Korea by December 2010 for importing the coal. The Australian coal has a Gross Calorific Value (GCV) of around 5000 kilo calories per kg of coal while Indian coal has nearly 3,000 kilo calories/kg. The coal mine has reserves of 7.8 billion tonnes almost all is mineable. The Adanis are the largest importers of thermal coal in India.

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