The financing delay is the latest hurdle for Adani, adding pressure to its ambition to deliver the first coal production from the mine by 2020. The December decision by the Queensland government to veto Adani’s A$900 million funding bid for a rail line meant financing would require more time to be secured, an Adani Australia spokeswoman said by phone Thursday. The Indian conglomerate said it will also consider selling a minority stake in its Carmichael project without providing further details. The financing delay is the latest hurdle for Adani, adding pressure to its ambition to deliver the first coal production from the mine by 2020. There have also been changes to the development of the mine and connecting rail line.

Source: Mint February 22, 2018 03:56 UTC