Adani Enterprises Ltd.

Adani Enterprises has decided to develop and operate the mine on an owner operator basis, following on from the NAIF veto last week, and in line with its vision to achieve the lowest quartile cost of production by ensuring flexibility and efficiencies in the supply chain.

Adani and Downer have mutually agreed to cancel all Letter of Awards and Downer will provide transitional assistance until March 31, 2018. Adani remains committed to develop the Carmichael project and will ensure the highest level of standards and governance.

This will not affect the company’s commitment or the number of local jobs across Queensland. This is simply a change in management structure and ensures that the mine will ultimately be run out of the company’s Adani Australia offices in Townsville.

Adani Enterprises is an infrastructure company. The company is engaged in coal trading, coal mining, oil and gas exploration, ports, multimodal logistics, power generation and transmission, and gas distribution.