Adani bought the resource in Australia’s Galilee Basin in 2010 as Indian companies rushed for overseas energy supplies amid forecasts of booming demand
The Chairman of the Adani Group, Gautam Adani, is hitting back at criticism regarding the Carmichael Coal mine. He stated that the endeavour will be both unprofitable and too dirty.
In an interview in New Delhi, Gautam Adani took aim at two major faults opponents have flung at the development.
He mentioned that the mines low-quality coal will not earn enough money to justify his $2 billion investment. He also said that the world must abandon the fuel in favour of renewable energy to avoid catastrophic climate change.
“If the project wasn’t viable, we wouldn’t have pursued it. Renewable energy is good for the nation, but it cant meet our base-load power needs,” said Adani.
