The Greens have called on the Australian Securities and Investments Commission to investigate the ownership structure of Australia's largest coal development as Queensland's new Labor government cleared the way for two Indian mining giants to expand coal terminals near the Great Barrier Reef.

Greens Senator Larissa Waters has written to ASIC chairman Greg Medcraft seeking an urgent investigation into the financial controls behind Indian company Adani's Carmichael coal mine and Abbot Point coal port.

Senator Waters approached the regulator after a Fairfax Media investigation found billionaire Gautam Adani, who has been the public face of the controversial project, does not ultimately control many of the companies associated with the development.

Instead his eldest brother, Vinod Shantilal Adani, holds pivotal positions.

Adani has repeatedly stressed the ownership structure for its project has not changed, but the Greens are calling on the regulator to clarify.