AEL’s Clarification on CEC Report

May 2, 2012 - PRLog -- It is reported in the media that Central Empowered Committee (CEC) has submitted to the Hon’ble Supreme Court its report recommending further investigation in respect of alleged illegally mined export of Iron Ore from Belekeri Port. The report submitted by CEC is yet to be considered by the Hon’ble Supreme Court.

The Company will file its response to the CEC report and will present its case at the appropriate time before the Hon’ble Supreme Court. In spite of our submissions, (Even after our submissions) if the Hon’ble Supreme Court adopts the CEC report, Adani Enterprises Limited, as a responsible Corporate, will extend all co-operation to the investigating agency. We are confident that the truth will prevail and our non-involvement in any such activity will be proved.

It is once again clarified that Adani Enterprises Limited did not own and does not own or operates any iron ore mine in Karnataka or any other part of the country. It has never undertaken any such mining activity.  Hence, company’s involvement in illegal mining does not arise at all.

The Company was one of the four Parties/Stevedores providing services at Belekeri Port. Company’s responsibility/role was limited to only provide port services for the export of iron ore. However, to obtain clearances/permissions/permits and transportation of iron ore from Mines till the port were the responsibility of Miners/Traders/Exporters. Adani as a service provider did not have mandate/authority to check such clearances/permissions/permits. It is also to be noted that iron ore exports were carried out under the supervision of relevant port and custom authorities.  

The Company reiterates that its activities at Belekeri Port have been conducted within the framework of law.

Adani Enterprises has a robust business model and continues to create value for all its stake holders.

About The Adani Group

The Adani Group is one of India’s leading business houses with revenue of almost $6 billion for financial year 2011.

Founded in 1988, Adani has grown to become a global integrated infrastructure player with businesses in key industry verticals - resources, logistics and energy. The integrated model is well adapted to the infrastructure challenges of the emerging economies. It multiplies the benefit of synergy and economies of scale both for the Group and for the customers.

We live and work in the communities where we operate and take our responsibilities to society seriously. The Group protects biodiversity in ecologically sensitive areas like Mundra and undertakes initiatives to reduce CO2 emissions. At Adani, we deliver benefits to our customers and customers’ customers.

   Resources means obtaining coal from mines and trading; in future it will also include oil and gas production.

Adani is developing and operating mines in India, Indonesia and Australia as well as importing and trading coal from many other countries. Currently, we are the largest coal importer in India. We also have extensive interests in oil and gas exploration.
   
Extractive capacity is scheduled to increase from 3 MMT of thermal coal in 2011 to 200 MMT per annum by 2020, making Adani one of the largest mining groups in the world.

   Logistics denotes a large network of ports, Special Economic Zone (SEZ) and multi-modal logistics - railways and ships.

Adani owns and operates three ports – Mundra and Dahej in India and Abbot Point in Australia. The Mundra Port, which is the largest private port in India, benefits from deep draft, first-class infrastructure and SEZ status.
   
Adani is also developing ports at Hazira, Mormugao, Visakhapatnam and Kandla in India and Dudgeon Point in Australia. Our aim is to increase our annual cargo handling capacity from 52 MMT in 2011 to 200 MMT by 2020.
      
   Energy involves power generation & transmission and gas distribution.

Adani is the largest private thermal power producer in India. Our power generation capacity is expected to increase from 4,000 MW at the start of 2012 to 10,000 MW by the end of 2012.

We are currently developing six power projects for generating 16,500 MW of power across Gujarat, Maharashtra, Rajasthan and Madhya Pradesh. Our aim is to generate 20,000 MW by 2020.

For further information, please contact

Roy Paul   
Adani Group
Tel: 91-79-25556628
roy.paul@adani.com
media@adani.com

Hiral Vora
Adfactors PR
Tel: 91-22-22049804
hiral.vora@adfactorspr.com