New Delhi, Oct 1 (IANS): The Carmichael Project will generate billions in mining taxes and royalties that will go to the Australian and Queensland governments in the first 30 years of operations, the Adani Group said on Thursday.

An Adani spokesperson said: "Consistent with the Queensland Treasurer's comments on Thursday, October 1, we can confirm that the royalties agreement has been signed by both Adani and the Palaszczuk Government.

"The Carmichael Project will generate billions in mining taxes and royalties that go to the Australian and Queensland governments in the first 30 years of operations. This money will help build schools, hospitals and roads for Queensland."

The construction of the coal mine and rail is well underway, with more than 1,500 people now employed and more than $1.5 billion in contracts awarded on the Carmichael Project.

"More than 88 per cent of our contracts are being delivered in Queensland and have been spread across all corners of the state to give as many regions as possible the opportunity to benefit from our project, while also enabling us to tap into the highly-skilled construction and resources industry workforce that Queensland possesses," the spokesperson said.

"Mining has cushioned the Queensland and Western Australian economies from the worst of the devastating economic impact of the Covid-19 lockdowns and we are proud to be a part of that. The construction of the Carmichael Project is on track to produce coal in 2021."