亚博体育官网首页

OCCRP report alleges massive coal supply scam involving Adani
COAL & MINING

OCCRP report alleges massive coal supply scam involving Adani

Revelations by the Organised Crime and Corruption Reporting Project (OCCRP) about the low quality of coal supplied by the Adani group have caused a stir in political and bureaucratic circles. The issue of low-quality coal and the resulting environmental degradation has been repeatedly highlighted in recent times in Tamil Nadu. This expos? alleges that at least 24 shipments, which arrived on the Tamil Nadu coast between January and October 2014, were initially priced as low-quality coal but were ultimately sold by the Adani group to the State's power utility at triple the cost.

On January 9, 2014, the bulk carrier MV Kalliopi L docked at Ennore port after a two-week voyage from Indonesia. It was carrying 69,925 tonnes of coal destined for the State's power company, according to OCCRP. However, the paperwork for the cargo took a more circuitous route, passing through the British Virgin Islands and Singapore. During this journey, the price of the coal more than tripled, reaching $91.91 per tonne. The quality also inexplicably changed from low-grade steam coal to the clean, high-quality version sought by power companies, OCCRP claimed.

Before reaching Tangedco, the paperwork for the shipment passed through a middleman: Supreme Union Investors, a company registered in the tax haven of the British Virgin Islands. Supreme Union Investors issued an invoice for the same shipment to Adani Global PTE Singapore " the group's regional headquarters" that listed the unit price as $33.75 per tonne and the quality as "below 3,500" kilocalories per kilogram (kcal/kg), considered low-grade, OCCRP reported. But when Adani Global issued its invoice to Tangedco for the shipment a month later, the unit price had dramatically increased to $91.91 per tonne and the coal was listed as having a calorific value of 6,000 kcal/kg, a high-quality form, relatively free of impurities, it added.

The evidence comes from multiple sources, including invoices and banking documents from several jurisdictions, details of investigations by India's Directorate of Revenue Intelligence (DRI), leaked documents from a key Indonesian coal supplier for Adani, and a trove of documents obtained from Tangedco, OCCRP stated.

Revelations by the Organised Crime and Corruption Reporting Project (OCCRP) about the low quality of coal supplied by the Adani group have caused a stir in political and bureaucratic circles. The issue of low-quality coal and the resulting environmental degradation has been repeatedly highlighted in recent times in Tamil Nadu. This expos? alleges that at least 24 shipments, which arrived on the Tamil Nadu coast between January and October 2014, were initially priced as low-quality coal but were ultimately sold by the Adani group to the State's power utility at triple the cost. On January 9, 2014, the bulk carrier MV Kalliopi L docked at Ennore port after a two-week voyage from Indonesia. It was carrying 69,925 tonnes of coal destined for the State's power company, according to OCCRP. However, the paperwork for the cargo took a more circuitous route, passing through the British Virgin Islands and Singapore. During this journey, the price of the coal more than tripled, reaching $91.91 per tonne. The quality also inexplicably changed from low-grade steam coal to the clean, high-quality version sought by power companies, OCCRP claimed. Before reaching Tangedco, the paperwork for the shipment passed through a middleman: Supreme Union Investors, a company registered in the tax haven of the British Virgin Islands. Supreme Union Investors issued an invoice for the same shipment to Adani Global PTE Singapore the group's regional headquarters that listed the unit price as $33.75 per tonne and the quality as below 3,500 kilocalories per kilogram (kcal/kg), considered low-grade, OCCRP reported. But when Adani Global issued its invoice to Tangedco for the shipment a month later, the unit price had dramatically increased to $91.91 per tonne and the coal was listed as having a calorific value of 6,000 kcal/kg, a high-quality form, relatively free of impurities, it added. The evidence comes from multiple sources, including invoices and banking documents from several jurisdictions, details of investigations by India's Directorate of Revenue Intelligence (DRI), leaked documents from a key Indonesian coal supplier for Adani, and a trove of documents obtained from Tangedco, OCCRP stated.

Next Story
Infrastructure Urban

MoHUA Plans New Role for Smart City SPVs

In a significant policy move, the Ministry of Housing and Urban Affairs (MoHUA) has issued an advisory encouraging the continued use and repurposing of Special Purpose Vehicles (SPVs) formed under the Smart Cities Mission (SCM). This marks a step toward sustaining urban transformation by leveraging institutional capabilities and infrastructure developed over the past decade.Initiated in 2015, the Smart Cities Mission introduced a new era of urban planning in India, with each of the 100 selected cities forming SPVs under the Companies Act, 2013. These entities, jointly owned by state government..

Next Story
Infrastructure Urban

ADB Approves $110 Million Loan to Boost Skills in Gujarat

The Asian Development Bank (ADB) has approved a USD 109.97 million (Rs 9.27 billion) results-based loan to support Gujarat鈥檚 efforts to become a global industrial hub by developing a future-ready, skilled workforce.The funding will back the Gujarat skills development programme, led by the Department of Labour, Skill Development and Employment in collaboration with Kaushalya: The Skill University (KSU). The initiative aims to equip the workforce with advanced, industry-aligned skills to meet rising employment demand in high-growth sectors.According to ADB, the programme seeks to strengthen in..

Next Story
Infrastructure Urban

SDAL Tests Rudrastra UAV and Bhargavastra Defence System

Solar Defence and Aerospace Limited (SDAL) has successfully completed a key flight test of its indigenous Hybrid VTOL UAV Rudrastra at the Pokharan Firing Range, aligning with Indian Army performance benchmarks for mission adaptability, high endurance, precision engagement, and vertical take-off and landing (VTOL) capability.The trial marks a notable achievement in India鈥檚 Aatmanirbhar Bharat initiative, underscoring advancements in home-grown military technology. The Rudrastra UAV demonstrated a mission radius exceeding 50 km with uninterrupted video relay, a total operational range of over..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement