Adani Enterprises Ltd.

Adani Enterprises, the flagship company of the Adani Group, has entered into a Memorandum of Understanding (MoU) with State Bank of India (SBI) for its upcoming coal mine at Carmichael in Queensland, Australia. As per the MoU, the bank will provide a loan of up to $1 billion to the company.

Furthermore, the company has also received a commitment from the Queensland state government to take short-term, minority stakes in rail and port infrastructure needed to unlock the massive coal reserves in the untapped Galilee Basin. Coal from the region must be sent 400 km by rail to Australia’s east coast.

Adani Enterprises 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.