Adani Enterprises Ltd.

Adani Mining, a part of Adani Group, India's largest integrated private power, port and infrastructure developer, and Posco E&C, a global construction company and a subsidiary of the South Korean giant Posco, have signed a binding agreement to develop a greenfield non-electrified standard gauge heavy haul rail line to open up the Galilee Basin coal reserves in Queensland, Australia.

The rail project will lead to the opening of the Carmichael mine project, which will deliver in excess of 10,000 jobs, and will also provide vital opportunities for Australian Industry involvement.

The agreement gives exclusive rights to Posco E&C to be the EPC (Engineering, Procurement and Construction) contractor for the 388 km greenfield standard gauge rail. The binding agreement has set clear pathways to execute the final contract by the end of this year, and the final contract will enable Posco E&C to facilitate the procurement debt financing as an equity participant

Adani Enterprises, the flagship company of the Adani Group, is the country’s largest coal importer-turned-domestic private mine developer-cum-operator (MDO). The company is truly a diversified asset backed commodities trader, sourcing, producing, marketing and transporting them across the globe.