Pauline Hanson wants a railway between Adani's mega-coal mine and the Queensland coast to be built and owned by the state or federal government.
The One Nation leader said she supported the controversial Galilee Basin project but did not think the Northern Australia Infrastructure Fund should loan the Indian company $1 billion to build the train line to the port.
"We have no vested interest in it whatsoever other than getting a return on our loan of about one per cent," she told ABC Radio on Thursday.
Senator Hanson claimed her research showed the amount of coal Adani intended to produce, which would then require transport, could result in a significant windfall if it was Australian owned.
She said the railway could also be used by other nearby mines.
"When you have something like this that is going to make us possibly $1b a year profit you don't give it away to foreign investors to own and control," she said.
"This is poor decisions by our leaders."
Senator Hanson said she had already called on Prime Minister Malcolm Turnbull to build and own the railway line and would continue to lobby for it.
But she also said she would love the Queensland government to build it.
"If we are in a position in Queensland to actually get the money to build the railway line, I would like Queensland to have it because I would like Queensland to get the profits of $1b a year," she said.
Senator Hanson also claimed she had been informed last week that Adani intended to sell a minority stake in the Queensland project in the next "couple of years".
