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Adani aims to tie up funding for Australia project by March

It would look to sell a minority stake in the project to help raise funds

Reuters  |  Mumbai 

adani, coal plant

Enterprises aims to tie-up financing for its in by March 2018, a senior company executive told Reuters, adding it would look to sell a minority stake in the project to help raise funds. 

Adani's planned project in the remote Galilee basin in northeast has been delayed for years after opposition from environmental groups forced banks to stay away from funding what is the biggest coal mine in the country. 

"By the end of this financial year, all things will be in place," Jeyakumar Janakaraj, chief executive officer of Australia, said. While physical construction at the mine is scheduled to start in the next few weeks, Janakaraj said the company was in talks to secure export credits and lease out mining activities. 

First Published: Tue, October 03 2017. 23:09 IST
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