Adani Enterprises Applies To Australian Government Fund For Coal Mine Railway Financing

Adani Enterprises Applies To Australian Government Fund For Coal Mine Railway Financing

India’s Adani Enterprises BSE 0.37 % has applied for financing from an Australian infrastructure fund to build a rail line that is part of a $16 billion coal project in the state of Queensland, Australia’s resources minister said on Monday.

Financing from the A$5 billion Northern Australian Infrastructure Facility (NAIF) would offer a boost to Adani after some major banks said they would not participate in the controversial coal project.

Since starting work on the Carmichael development over five years ago, Adani has battled opposition from green groups who say it will contribute to global warning.

“(NAIF) is considering Adani’s proposal at the moment,” Matthew Canavan told Reuters in an interview in Tokyo .. Read more

Credits: economictimes.indiatimes.com

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