Companies

Adani rejigging budget, timeline on Australia coal mine project

Reuters SYDNEY | Updated on January 24, 2018 Published on June 24, 2015

Adani Group Chairman Gautam Adani (file photo)

Adani Mining said on Wednesday it was rejigging the budget on the A$10 billion ($7.72 billion) Carmichael coal mine in Australia as it faces delays in project approvals.

Adani Mining had asked its four engineering contractors working on the Carmichael project to halt work around the mine, the Guardian Australia reported earlier, raising speculation that the company might scrap the project altogether.

"The project budget was based, understandably, on these anticipated approval timelines and milestones," Adani said in a statement.

"As a result of changes to a range of approvals over that time, it's necessary to synchronise our budget, project timelines and spending to meet those changes," it said.

The statement did not directly address the Guardian report. ($1 = 1.2957 Australian dollars)

Published on June 24, 2015

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