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.

Tags

Adani Enterprise Limited China NGOs Adani Group India Australia

Related News

  • After note-ban, growth of green buildings slows down in Hyderabad  Read more
  • GAIL net up 28% on higher gas trading, petrochem margins  Read more
  • Solar projects risk mitigation mechanism under ISA to be ready in a year  Read more
  • Gujarat NRE Coking Coal rejects Jindal Steels A$ 222-milliontakeover bid  Read more
  • Indias fuel demand surges 6.7 per cent in October on higher auto fuel use  Read more
  • Coal India taps rising coking prices to woo steel sector  Read more
  • UN climate meet: CSE urges India to submit INDCs  Read more
  • Green power gets a big push  Read more
  • Mongolia pegs $1 billion from India for oil refinery, pipelines  Read more
  • Hyundai to enter electric vehicle race in India with Ioniq brand  Read more