I am all in favour of Adani mine. I thank Adani and his team for what they have done to provide electricity to Indians and jobs and prosperity to Australia,’ says Tony Abbott Gautam Adani, the billionaire chairman of the embattled Adani Group, on Thursday found support from former Australian Prime Minister Tony Abbott, a known backer of Adani Group’s coal mine projects in Australia.

2. Gautam Adani, the billionaire chairman of the
embattled Adani Group, on Thursday found support from
former Australian Prime Minister Tony Abbott, a known
backer of Adani Group’s coal mine projects in Australia.
As much as $140 billion of the market value of the
conglomerate’s listed companies was wiped out after US
short seller Hindenburg Research on January 24 accused
the Adani empire of ”brazen stock manipulation and
accounting fraud” and using a number of offshore shell
companies to inflate stock prices.
Abbott, who had in 2015 as the Prime Minister of
Australia decried a court ruling against Adani Group’s
Carmichael coal mine project, said the relevant regulators
will ”do their job” regarding any allegation of wrongdoing
by the ports-to-power conglomerate as alleged by an US
short seller firm.

3. Comparison
”I am all in favour of Adani mine. I thank Adani and
his team for what they have done to provide electricity
to Indians and jobs and prosperity to Australia,” he
said.fa
If we get to the stage where the rules are such that
projects like this can be endlessly frustrated, that’s
dangerous for our country and it’s tragic for the wider
world,” he said.
In 2015, when a local court revoked the environmental
approval for the Adani building one of the world’s
largest coal mines in Queensland, Abbot had stated that
it was ”tragic for a wider world” if legal safeguards are
allowed to stall large mining projects.

4. While it’s absolutely true that we want the highest
environmental standards to apply to projects in
Australia, and while it’s absolutely true that people
have a right to go to court, this is a $21 billion
investment, it will create 10,000 jobs in Queensland
and elsewhere in our country.
On the allegations by Hindenburg Research, Abbott
said that he has not seen the details of the report and
”I assume if there is anything in them, the relevant
corporate regulators will do their job”.
As far as I am concerned I regard Adani as a benefactor
to Australia and I admire his success in building up a
very large diverse business empire from scratch,” he
said.

5. Attachments
Source URL
Original Link :- https://www.businesstoday.in/latest/corporate/story/have-lot-of-
admiration-for-gautam-adani-his-company-says-former-australian-pm-who-backed-adanis-
coal-mines-372050-2023-03-02
https://adaniaustralia.in/have-lot-of-admiration-for-gautam-adani-his-company-says-
former-australian-pm-who-backed-adanis-coal-mines/

6. Thank You