Coal News We love to talk!

DEC 06 2017

The buck stops with Adani now: Australian envoy Sidhu

  • Economic Times, ET Bureau / Hyderabad
  • Created: Wed 06th DEC 2017


A decision on the time of commencement of the $16-billion mining project that the Adani Group has planned in Australia is entirely for group head Gautam Adani to make, Australian High Commissioner to India Harinder Sidhu has said, putting the ball squarely in the industrialist’s court.

“The Australian government supports the Adani project for a very simple reason: it represents a massive economic development for the country. It will attract jobs, it will bring in investments, it will open up a part of Australia’s resource sector that has yet to be opened, it will be very dynamic for the local economy,” the Indian-origin envoy told BusinessLine .

She said the Australian government has given all clearances, particularly environmental, as the project meets all requirements; now it is up to the Adani Group to begin work on the mine.

Ever since the project was announced, it has been facing strong opposition from the locals, NGOs and civil rights groups there, citing the severe environmental degradation it is likely to bring in central Queensland. So much so that banks are now shying away from financing the project.

Bank of China and the Industrial & Commercial Bank of China stated on Sunday that they have washed their hands of the project, making it clear that they will not provide funding for the project.


Adani Enterprise Limited China NGOs Adani Group India Australia

Related News

  • Power Grid sees $25 billion up for grabs on Modi's power plan  Read more
  • Make excise rates on LPG uniform: Oil Min to Finmin  Read more
  • Alstom India wins duty drawback spat at Gujarat High Court  Read more
  • Narendra Modi govt puts hefty $1 bn burden on ONGC, Oil India  Read more
  • Tamil Nadu receives most bids for wind energy projects  Read more
  • India pips US on renewable energy investment, but trails China  Read more
  • Commissioning of first unit of Kudankulam nuclear project may take longer  Read more
  • Coal India thrusts high-quality fuel on non-power companies  Read more
  • Compat issues notice toCCI in Adani Gas case  Read more
  • KPMG foresees solar tariff at Rs. 3.59 in ten years  Read more