Adani likely to get Chinese loans for Australia project

Agencies
November 22, 2017

Melbourne, Nov 22: Indian mining giant Adani is close to securing loans from China to build a 388-km railway in Queensland for its controversy-hit 16.5 billion dollars Carmichael coal mine project, a media report said today.

According to the report, days ago, a director of Adani Mining, an Australian subsidiary of the Adani Group's flagship company Adani Enterprises, told industry figures that the company had secured Chinese funding for the mine and the rail project between Abbot Point and Galilee basin in Queensland.

"Adani Group is close to securing finance with an announcement expected in coming weeks that Chinese state-owned enterprises, banks, and export credit agencies are backing the venture," the Australian Broadcasting Corporation (ABC) reported.

The company, however, rejected the claim in a statement saying, "There have been incorrect reports in the media this morning stating that Adani is no longer seeking a loan from the NAIF".

It said that Adani has not sought to become a subject of contention in the current Queensland election campaign and that it has held productive meetings with a wide-range of financiers for the Carmichael Mine and associated infrastructure.

The ABC report claimed the director had said that Adani would not need the loan from the Northern Australian Infrastructure Facility (NAIF) to fund the 388-kilometre railway.

It claimed a formal announcement of "financial close" was imminent and that "China's money will come at the cost of local jobs".

"However, this does not negate the need for support from the Federal and State governments including a NAIF loan every cent of which will be repaid by Adani with interest," the company said.

"The purpose of NAIF is to provide loans for economic infrastructure and, again, every cent of this loan will be repaid with interest. The infrastructure Adani is building will be common user infrastructure and will be able to be used by other projects creating opportunities for further jobs and investment," it said.

The company reiterated its commitment to Queenslanders particularly regional Queenslanders which it said remained "rock solid".

"Unlike some who are reducing their presence in regional centres, Adani will never tradeoff local jobs for short-term benefit. In fact, Adani's regionalisation strategy has cost the company money, not saved money," the company said.

Meanwhile, protesters opposing the project continued to stop the construction work by trying to occupy Adani's Townville office.

Last month, it was revealed that Australian federal ministers had written a formal letter to the Chinese government to confirm that the controversial coal project had passed all necessary environmental approvals.

Adani and the Queensland government have highlighted that the mine, which after its completion will be Australia's largest coal mine, will prove beneficial for the region.

Adani has claimed the massive project will create 10,000 direct and indirect jobs in central Queensland.

The company, which has managed to clear 200 stringent conditions for the project and several legal challenges from environmental groups, is aiming to start exporting coal via its Abbot Point coal terminal in 2020.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
April 23,2024

nehalove.jpg

Hubballi, Apr 23: Karnataka Chief Minister Siddaramaiah on Tuesday spoke to father of slain student Neha Hiremath over phone and said "sorry" over his daughter's killing, and assured that "we will be on your side".

The Chief Minister also informed Niranjan Hiremath, who is also a Congress councillor of Hubballi-Dharwad Municipal Corporation, about the government's decision to hand over the murder case to the Criminal Investigation Department (CID) and setting up a special court to fast-track trial.

"Niranjan... very sorry. We will be on your side," Siddaramaiah told Hiremath over the phone call during state's Law and Parliamentary Affairs Minister H K Patil's visit to Hiremath's house here.

In the conversation on Patil's phone with speakers on, Siddaramaiah can be heard informing Hiremath about the CID probe and setting up a special court.

"It is a serious offence... setting up a special court will ensure punishment for the accused person."

Hiremath thanked Siddaramaiah on behalf of his family well-wishers and the community for handing over the case to CID and setting up a special court "...ensure there is an order at the earliest and provide us justice," he said, as he also thanked Patil, Home Minister G Parameshwara, local Congress MLA Prasad Abbayya and others for their support.

Replying to this, Siddaramaiah said, "We will ensure it, at the earliest."

In a shocking incident, Neha Hiremath (23), was stabbed to death on the campus of BVB College last Thursday. The accused Fayaz Khondunaik, who fled from the scene, was arrested by the police subsequently.

Neha was a first year Master of Computer Application (MCA) student and Fayaz was earlier her classmate.

Siddaramaih on Monday had announced his government has decided to hand over the investigation into the incident to the Crime Investigation Department, and to set up a special court for speedy disposal of the case.

The case of brutal murder, which sparked widespread outrage, has snowballed into a political slugfest between ruling Congress and opposition BJP.

While the ruling party has tried to project it as an incident with personal angle, the saffron party has called it a "love jihad" case and has said it's a testimony of deterioration of law and order in the state.

Earlier, Siddarmaiah's statement that the murder was due to "personal reasons" and Home Minister G Parameshwara's comments that the duo was in love, has elicited sharp reactions from Hiremath and family members and opposition parties.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
April 22,2024

hizbullah.jpg

Some 62,000 Israeli settlers have fled areas in the northern sector of the 1948 Israeli-occupied lands amid fear of strikes by Lebanon’s Hezbollah resistance movement in retaliation for the bloody onslaught on Gaza, latest reports have revealed.

Lebanon’s al-Mayadeen television news channel, citing Israeli media outlets, reported on Sunday evening that the number of settlers that have evacuated the area as a result of Hezbollah’s operations now stands at a staggering 62,000.

The report noted that 30,000 of the settlers have evacuated northern occupied Palestine on their own as fears are mounting among the residents that Hezbollah fighters continue to carry out daily operations with no signs that they are deterred by any action the Israeli army is taking.

Israeli media outlets further noted that 40% of the evacuees are considering no return to the region.

Moreover, 38% of those who voluntarily left the area, no longer intend to return to their previous places of residence in the northern occupied territories.

This comes as Hezbollah targeted a facility housing Israeli soldiers in the Shomera settlement earlier on Sunday with a barrage of rockets.

The Lebanese resistance group also struck surveillance devices newly installed around the Dovev military barracks, completely destroying the hardware.

Hezbollah said in a statement that it attacked the deployment positions of Israeli soldiers south of the Jal al-Alam site, using heavy-caliber Burkan (Volcano) missiles.

In another statement, the resistance group announced that its fighters struck surveillance equipment at the Misgav Am military site, which Israeli forces had lately re-positioned.

Surveillance equipment at the al-Malkiya base was also targeted and destroyed, it said, adding that the operation was carried out with a salvo of rockets.

The Israeli regime has repeatedly attacked southern Lebanon since October 7, when it launched a genocidal war on Gaza that has killed at least 34,097 Palestinians, most of them women and children.

In retaliation, Hezbollah has launched near-daily rocket attacks on Israeli positions.

At least 349 people have been killed on the Lebanese border, including 68 civilians.

Hezbollah has already fought off two Israeli wars against Lebanon in 2000 and 2006. The resistance forced the regime to retreat in both conflicts.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
April 23,2024

bird.jpg

Mangaluru, Apr 23: As an outbreak of avian flu has been reported in some districts of neighbouring Kerala, the border areas of Karnataka, including Mangaluru, have been put on high alert, officials of the Karnataka Animal Husbandry department said.

At present, the situation in Kerala is being monitored before any action can be taken, they said.

“Our Kerala counterparts have assured us that the avian flu has been contained within Alappuzha district. However, loading, booking and carrying poultry and poultry products on trains and at railway stations are still under consideration (surveillance), the officials said.

Not only railways but also road transport ferrying chicken loads from Kerala to Mangaluru are under surveillance. Mangaluru, being one of the largest consumers of chicken from Kerala, has halted chicken procurement from Kerala-based suppliers.

Sudhakar Shetty, a market functionary, stated, “The animal husbandry department of Kerala has advised containment of avian flu within a few districts in Kerala. We are closely monitoring the situation.” Despite this, the market has not experienced significant fluctuations in supply yet, as local stocks have been adequate to meet the demand for the next few days.

Demand for chicken could fall for a few days due to a series of temple festivals in coastal areas, where many consumers refrain from consuming meat-based meals until Saturday. Nevertheless, Sunday could witness a change, as consumers may desire hot chicken curry for their Sunday meals, according to the local people.

As officials in the animal husbandry department in Dakshina Kannada have raised awareness in the market about avian flu in the neighbouring state, the question arises whether prices will fall if demand decreases.

“We do not want to contribute to the hysteria surrounding avian flu until our local stock falls below the level of demand,” said Aston D’Souza, a farm owner.

Dakshina Kannada also serves as a good market for suppliers from Shivamogga, Hassan, and Chikkamagaluru.

“In case supplies dwindle due to an unlikely prolonged shutdown of Kerala supplies, we can always purchase from those districts, albeit at a slightly higher cost than Kerala stock,” Shetty said.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.