'They Are Creating Jobs In Australia': Australian Trade Minister Welcomes Adani Group's Investment

Australian Trade and Tourism Minister Don Farrell has welcome Adani Group's investment in Australia and described the Gautam Adani-led conglomerate as "good corporate citizens".

Farrell expressed hope that the company's issues in India wouldn't affect its Australian investments.

“I have seen public reports that none of the problems that Adani have got will impact their Australian investments, and I just hope that those reports are correct,” Farrell was quoted by Indian Express as saying while speaking to Indian media persons.

“We welcome Indian investment. We welcome Adani’s investment. They are creating jobs in Australia. They are good corporate citizens. And they are part of that process of lifting the living standards of people in India and we support that,” Farrell said.

Adani, a major player in energy, mining, and port industries, possesses a substantial market segment in Australia in these sectors.

The company runs a port in Queensland, and its focal venture, the Carmichael coal mine and road project, though controversial for ecological reasons, is located in the same Queensland region.

In addition to coal, Adani has also made strides in renewable energy with investments in solar power projects in Australia.

Farrell further said that Australia's focus on developing critical minerals won't impact coal mining in the short term.

“Coal is not going anywhere soon. Coal would continue to provide power to India and many other countries in the foreseeable future," he said.

However, the need to make the transition from fossil fuel-based sources to renewable energy with the support of batteries is becoming increasingly important, he added.

According to Farrell, the key is to invest in both conventional sources like coal and gas while also prioritising the successful transition to renewables at some point in the future.

Farell said that there was no reason to worry about Indian companies investing in fossil fuel development projects, such as the Carmichael one.

He that while the world is moving towards renewable energy, it will take a significant amount of time to phase out non-renewable sources.

"But that is not about to happen anytime soon. And we will continue to support gas and coal developments in Australia in the near term,” he said.