Adani in $1.6bn infra pact with Indonesia | business | Hindustan Times
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Adani in $1.6bn infra pact with Indonesia

business Updated: Jan 25, 2011 21:37 IST

Adani Enterprises Ltd, the flagship company of Adani Group on Tuesday inked an agreement for a setting up a $1.65 billion (R7,540 crore) ‘rail and port project’ with the government of Indonesia and PT Bukit Asam Tbk, the government-owned coal mining company of Indonesia.

The project will be executed by PT Adani Global, a subsidiary of Adani Enterprises, over 48 months, the company said in a press release.

The pact was signed by Adani Group chairman Gautam Adani with Alex Noerdin, the governor of the South Sumatra province of Indonesia, and Sukrisno, president-director, PT Bukit Asam Tbk, in the presence of Indonesian President Susilo Bambang Yudhoyno here on Tuesday. “We at Adani are committed towards coal mining and development of a world class port, rail and power infrastructure in Indonesia,” Gautam Adani said in the statement.