Senate debates

Wednesday, 22 March 2017

Questions without Notice

Adani Group

2:17 pm

Photo of Richard Di NataleRichard Di Natale (Victoria, Australian Greens) Share this | Hansard source

The ABC last week uncovered that the company structure of Adani means that at least $3 billion in royalty rights and even more in assets can be diverted to tax havens owned by the billionaire Adani family. So, even if the project goes bust, Adani could sell it to someone else, and yet royalties would still be paid into the Adani family's Cayman Islands account. Does the minister agree with the assessment of financial analyst Adam Walters that this is a structure that guarantees the Adani family will be enriched while others are impoverished?

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