The troubles for Indian business tycoon Gautam Adani in Australia shows no signs to ebb.
According to a report in
Green Left Weekly, questions have emerged against Adani’s claim of securing finance for the controversial Carmichael mine and rail project in Queensland, Australia.
Karan Adani, who is the CEO of the Indian group's ports business, said the company is close to locking in the finance for a rail line to service its $16.5 billion Queensland coal mine. He made the revelation during an interview with
The Economic Times on July 18.
He also claimed that all approvals were in place and that work would commence immediately after the rail finance was approved.
But according to the Australian socialist newspaper, the project is facing severe hurdles. This includes federal approval for Adani’s proposed water scheme, several legal challenges, logistical and infrastructural hurdles such as building a new airstrip, and railway line among others, the
Green Left Weekly report said.
The present situation is part of the long list of challenges the group has faced since it proposed Carmichael coal mine in Australia’s Queensland state. Set to be the biggest mine in the country, the project has met with hurdles, both financial and from environmentalists.
Environment groups say the mine would contribute to global warming and damage the Great Barrier Reef and worsen global warming. In addition people have also raised doubts about whether Adani can fund the mine project.
(With inputs from Reuters)
