The ABC’s Stephen Long reports (21.12.16):
‘Giant Indian conglomerate Adani, which plans to build one of the world’s largest coal mines in Queensland’s Galilee Basin, has set up a complex network of companies and trusts in Australia which are owned in one of the world’s major tax havens, the Cayman Islands.
‘The Adani Group is also attempting to shift ownership of the existing Abbot Point coal port — which it bought for $1.8 billion — to a Singaporean company ultimately owned in the Cayman Islands.
‘An exhaustive search of company filings and documents across the globe has cast light on this opaque structure of ownership and control.
‘It has alarmed environmental activists and legal experts, who fear it could make it harder to gain compensation from Adani in the event of an environmental disaster from Adani’s planned mine and port expansion on the edge of the Great Barrier Reef.’