The company will begin work on the project three months after it gets final approval from Australia’s federal government, Gautam Adani, billionaire chairman of the Indian group said on Friday.
Adani expects permission from Malcolm Turnbull’s government for the project in Queensland’s Galilee Basin as early as May, with a final investment decision by May or June, he said.
It will likely proceed given the pressing need for fresh sources of power generation in India, according to David Lennox, an analyst with Fat Prophets in Sydney.
Environmentalists are concerned that the development will threaten vulnerable species including a lizard known as the yakka skink, as well as the Great Barrier Reef.
First conceived in 2010, the Carmichael coal project includes the coal mine and a rail link to Abbot Point port.