As per the agreement, AEL and its wholly-owned subsidiary company Gare Palma II Collieries (GPIICPL) will develop and operate the Gare Palma Sector II coal mine.
The Gare Palma Sector II coal mine was allocated to MAHAGENCO in 2015 by the India’s Ministry of Coal.
The coal block was allotted for development, operation, and captive consumption of coal, which will be used by thermal power plants located at Koradi, Chandrapur, and Parli in the Indian state of Maharashtra.
In 2016, MAHAGENCO launched a tender seeking mine developer and operator (MDO) for the Gare Palma II coal mine.
Adani Enterprises was selected as the L-1 bidder following reverse auction.
Upon receiving letter of acceptance (LOA) from MAHGENCO, AEL formed a special purpose vehicle (SPV) company, GPIICPL, as per the tender provision.
The 34-year contract period includes mine development, operation and final mine closure.
As per the approved plan, the GP-II coal mine will have a peak rated capacity of 23.6 million tonnes per year (Mt/y) with 553.177 Mt of total mineable reserve for the opencast mine.
Last year, Adani Mining awarded civil construction contract to Australian rail firm Martinus to build a critical section of the Carmichael Rail Network in Australia.
As per the contract, Martinus will deliver 86km of rail formation works, a road over rail bridge, and nine waterway bridges.
The contract also includes the construction of more than 200 culverts and 35 rail crossings.
The Carmichael project is located in the Galilee Basin in Central Queensland, Australia.