Adani jobs to flow almost immediately after approval
JOBS are expected to begin flowing almost immediately after Indian mining giant Adani gave final investment approval for the first stage of the Carmichael coal mine.
The result will mean an extra $1.2 billion a year in economic benefits for the Queensland economy over the next four years as the development sparks an economic revival in regional areas, which are likely to see as much as $450 million a year.
Speaking at the opening of the company's North Queensland headquarters in Townsville yesterday, Adani Australia chief executive Jeyakumar Janakaraj said it was a momentous occasion.
"We have been resilient to a lot of changes that have happened around the place but we have stayed at a level which we know we are doing the right thing," he said.
"We will feel proud for what we have done for regional Queensland and India."
Adani chairman Gautam Adani said in a statement the project was the largest single investment by an Indian corporation in Australia.
"We have been challenged by activists in the courts, in inner-city streets, and even outside banks that have not even been approached to finance the project," Mr Adani said.
"We are still facing activists. But we are committed to this project. We are committed to regional Queensland and we are committed to addressing energy poverty in India."
It was also announced yesterday that Downer Group won the $2.6 billion contract for the mine development while AECOM would build the rail link to the Abbot Point coal terminal.
AECOM will employ an extra 70 people in Townsville to work on the project.
It's expected the rail project will employ about 4000 workers while the mine will need about 3500 during construction.
The decision on whether Rockhampton or Townsville will be awarded the fly-in fly-out hub is still another four to six weeks away.
The Townsville headquarters will employ 500 people over the coming weeks.
While some of the jobs will be filled through relocation, others will be offered to locals.
The hurdle for Adani now is to find an extra $US2.5 billion in loans.
The company believes it can get that funding.
"The plan (financial closure) we are working for is this December," Mr Janakaraj said.
"Every milestone that we have said we wanted to achieve we have collectively been able to achieve."
Federal Resources and Northern Australia Minister Matt Canavan said the decision had been worth the wait.
"It was 2392 days ago that Adani referred their environmental impact statement to the Federal Government, it was a long time," he said.
"Thank you Adani for your commitment to wait. The time for doing is beginning.
"There are more than a quarter of a billion Indians who don't have electricity at all - this is about providing a service and benefit to them.
"That does a lot more for the world, our globe and environment than anyone tweeting from an air-conditioned room in Sydney who might be opposed to this."
Premier Annastacia Palaszczuk said the announcement was a vote of confidence.
"My government was able to facilitate the opening of three (resource) basins by our arrangement we now have with royalties," she said.
"We need to continue to grow our economy and create jobs for Queenslanders."