The 250km railway will be built, owned and operated by Adani Enterprises. "We look to start construction there in the next three months after getting all the clearances," says Mr Devang Desai, chief finance officer of Adani Enterprises. The project is set to be completed in four years, while the deal gives Adani exclusive rights to 60% of Bukit Asam's coal reserves in South Sumatra province.
Indian company to invest in Indonesian rail project
ADANI Enterprises, India, is to invest $US 1.65 billion in the construction of a new railway and port on the Indonesian island of Sumatra to allow the extraction of coal for generating electricity in India. This follows an agreement reached today with the Indonesian government and Indonesian coal mining company PT Bukit Asam.