Ex-Australian PM Tony Abbott all praise for Adani
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New Delhi: Former Australian Prime Minister Tony Abbott surfaced on Wednesday with huge praise and support to Adani Group's Chairman Gautam Adani. Abott, a known supporter of Adani's coal mine projects in Australia, said he has much admiration and respect towards the corporate tycoon, PTI reported.
Abbott denounced a court ruling against Adani Group on its Carmichael coal mine project and reacted to the Hindenburg report's allegation that regulators will do their job on any allegation against the group if there is truth in it.
After the Hindenburg revelations, around USD 140 billion of the market value got wiped off from Adani Group's listed companies. Hindenburg Research alleged on January 24 that Adani Group committed stock manipulation and accounting fraud using a number of offshore shell companies to inflate stock prices.
"I have a lot of respect and admiration for Adani and Adani Group," Abbott told media here.
He said that the coal mined out by Adani's Carmichael mines in Australia would "certainly" contribute to the electrification process in India.
"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. "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.
When a court revoked the environmental approval for the Adani building, one of the world's largest coal mines in Queensland, in 2015, Abbott reacted that it was tragic for the wider world. Adani Group received the final approval for the project in 2019, and coal continues to be shipped to India from Carmichael for power production.