Chinese Banks Refuse Loan To Adani’s Controversial Mine Project In Australia Due To Environmental Concerns


Chinese Banks Refuse Loan To Adani’s Controversial Mine Project In Australia Due To Environmental Concerns

Two major state-run Chinese banks have refused loan to Indian energy giant Adani’s controversy-hit Carmichael coal mine project in Australia due to environmental concerns. The 16.5 billion dollar Carmichael coal mine project, one of the world’s largest, will start construction after being given the green light by the federal and Queensland state governments.

Adani is seeking a finance of 2 billion Australian dollars by March 2018 for the first stage of its proposed mine project in Queensland. The Industrial and Commercial Bank of China (ICBC), in a statement, clarified that it had no intention of funding Adani’s proposed mine in Queensland, the Australian Broadcasting Corporation reported.

“ICBC has not been, and does not intend to be, engaged in arranging financing for this project,” ICBC said in a statement on its website.”ICBC attaches great importance to its social responsibilities and keenly promotes green financing.”  Read More…

One Response to "Chinese Banks Refuse Loan To Adani’s Controversial Mine Project In Australia Due To Environmental Concerns"

  1. Amit   December 5, 2017 at 11:52 am

    That was so obvious that Indian Co won’t be allowed to set up a huge presence in Aus coz China has a long term colonisation plans for this country. Check the exponential rise in Chinese investments n settlement in Aus…a strategic analyst will easily see a pattern in this. To add to this, pls recall how Cong & Left parties also were head over heels to protest against Adani picking Aus coal mine. May sound unrelated but they are v much acts of d same drama.

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