A decade after acquiring mining rights in Australia, he is ready for his first consignment. But with the world against the fuel, will he suffer the winner’s curse?
In September, Adani Group-owned Bowen Rail Co. received the first of 10 state-of-the-art locomotives that will haul coal from its Carmichael coal mine in Queensland, Australia. Each of these locomotives will pull 120 wagons loaded with thermal coal at 80 km. per hour on a narrow gauge railway line to the North Queensland Export Terminal (also group-owned).
In a trial phase over the next few months, the Ahmedabad-based group hopes to export 2.6 million tonnes of coal, but starting July 2022, the plan is to export 9.3 million tonnes of coal every year for the next three decades.
It’s a …
Surendar helps lead the newsroom at The Morning Context as executive editor. Over the years, Surendar has worked in industries from pharmaceuticals to diamonds, as well as a stint as an equity analyst. In his long career as a business journalist, he has led teams at The Times of India, India Today and Fortune India. He was part of the founding team at Forbes India and interned at and published in The Times, London.
Executive Editor
surendar@mailtmc.com
Mumbai