Times of India | Jun 25, 2015
Adani’s Australian ambitions ran into a new dispensation following an election in coal-rich Queensland, leading to a policy reversal and heightened pressure to protect the Great Barrier Reef. However, sources also say that softening international coal prices has made the going tough.
The Adani Group is likely to withdraw from the $16-billion (Rs 1,00,000-crore) Australian coal mining project, touted as the world's largest, due to concerns over softening international coal prices, relentless attacks by environmentalists and delay in regulatory clearances, risking India's largest FDI in Australia.
The $10-billion infrastructure conglomerate, according to sources, is concerned about the slow pace of clearances and, to begin with, has decided to halt engineering work in the Carmichael mines in Queensland as well as on its rail line and expansion of Abbot Point port. This has led to speculation that the group is about to walk out of the project.
Read More
Adani’s Australian ambitions ran into a new dispensation following an election in coal-rich Queensland, leading to a policy reversal and heightened pressure to protect the Great Barrier Reef. However, sources also say that softening international coal prices has made the going tough.
The Adani Group is likely to withdraw from the $16-billion (Rs 1,00,000-crore) Australian coal mining project, touted as the world's largest, due to concerns over softening international coal prices, relentless attacks by environmentalists and delay in regulatory clearances, risking India's largest FDI in Australia.
The $10-billion infrastructure conglomerate, according to sources, is concerned about the slow pace of clearances and, to begin with, has decided to halt engineering work in the Carmichael mines in Queensland as well as on its rail line and expansion of Abbot Point port. This has led to speculation that the group is about to walk out of the project.
Read More
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