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Adani to seek $2.3 billion of debt for Oz coal projects

The company is seeking A$2 billion to A$3 billion from lenders, including from banks in China

Ruth Liew & Perry Williams 

Indian conglomerate Adani Enterprises Ltd. needs as much as A$3 billion ($2.3 billion) 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$2 billion to A$3 billion 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. In addition, the firm ...

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First Published: Sat, December 23 2017. 23:21 IST
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