Adani Enterprises is now on a lookout for partners to help fund a $2 billion coal rail line from Australia's Galilee Basin to the Pacific Ocean, after acquiring Queensland state government approval for the proposed route. The company, which is eager to cooperate with third parties for the development, also does not mind in handling the project single handedly.
The biggest road-block to the Galilee Basin projects is affordable access to port, as the region is much further from the coast than Queensland's other coal-rich basins.
The company is planning a $10 billion coal and rail project in the Galilee Basin, where five major mines could produce more than 200 million tonnes of coal a year.
The company registered a jump of 243.26% in net profit at Rs 170.53 crore for the fourth quarter ended March 31, 2012, compared with a profit of Rs 49.68 crore for the same quarter a year ago. The company’s total income surged 67.87% to Rs 1555.06 crore for the quarter under review as compared to Rs 926.32 crore for the corresponding quarter previous fiscal.
| Company Name | CMP |
|---|---|
| Redington | 234.90 |
| Adani Enterprises | 2218.35 |
| Amrapali Industries | 17.53 |
| Rashi Peripheral | 455.25 |
| PDS | 301.45 |
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