Adani may seek A$3bil debt for Aussie coal plans


SYDNEY: Indian conglomerate Adani Enterprises Ltd needs as much as A$3bil (US$2.3bil) in debt financing to help start producing Australian coal from one of the world’s largest mines, after major banks from Sydney to New York said they don’t want to lend to polluting fossil-fuel projects.

The company is seeking A$2bil to A$3bil from lenders, including from banks in China, for the first phase of developing the Carmichael mine and a rail line in Australia’s northeastern state of Queensland, according to a person with knowledge of the matter.

Subscribe or renew your subscriptions to win prizes worth up to RM68,000!

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Business , Adani

   

Next In Business News

China makes moves in digital culture market
Over 90% of entrepreneurs have yet to adopt e-invoicing - expert
Oil heads for weekly gains on anxiety over intensifying Ukraine war
S&P lowers outlook on three Adani units after US indictment of founder
Bumi Armada posts higher net profit of RM211.33mil in 3Q
Affin Bank's net profit jumps 45% to RM145.82mil in 3Q
KLCI remains positive as heavyweights bounce higher
Malaysia's inflation comes in at 1.9% in Oct
Globetronics shares rally in early trade after Taiwan deal
Nissan to cut or transfer about 1,000 jobs in Thailand, sources say

Others Also Read