Adani commits to north Qld FIFO bases

Townsville and Rockhampton have been named as the bases for fly-in fly-out workers at Adani's north Queensland coal mine.

Fly-in fly-out workers on Adani's proposed north Queensland thermal coal mine will be based in Townsville and Rockhampton, the state government has announced.

It is one of several workforce conditions agreed to by the Indian mining giant, along with a commitment to base rail and port operations in Bowen and establish its regional headquarters in Townsville.

Adani is yet to secure substantial financing for the controversial project, but says initial works will begin later this month.

The firm was criticised this week by former Indian environment minister Jairam Ramesh, who told the ABC he was appalled by the Australian government's decision to approve the multi-billion dollar mine proposal and questioned the miner's environmental track record.

In its response, Adani said it operated within the law and defended its environmental record, citing cases currently before India's Supreme Court.

The concerns came at the release of analysis by The Institute for Energy Economics and Financial Analysis, which details extensive financial risks to the project.

The Abbot Point Coal Terminal, which is leased to Adani by the federal government, is due for a $1.5 billion debt refinancing next year and a cumulative debt refinancing of $2.11 billion by 2020.

Adani's prospects for securing financing is seen by some within the finance sector as a significant challenge.

The state government says the project will deliver a crucial boost to north Queensland communities crippled by a lack of jobs.


Share

2 min read

Published

Source: AAP



Share this with family and friends


Get SBS News daily and direct to your Inbox

Sign up now for the latest news from Australia and around the world direct to your inbox.

By subscribing, you agree to SBS’s terms of service and privacy policy including receiving email updates from SBS.

Download our apps
SBS News
SBS Audio
SBS On Demand

Listen to our podcasts
An overview of the day's top stories from SBS News
Interviews and feature reports from SBS News
Your daily ten minute finance and business news wrap with SBS Finance Editor Ricardo Gonçalves.
A daily five minute news wrap for English learners and people with disability
Get the latest with our News podcasts on your favourite podcast apps.

Watch on SBS
SBS World News

SBS World News

Take a global view with Australia's most comprehensive world news service
Watch the latest news videos from Australia and across the world