US, Norwegian investors pressure SBI over loan to Adani mine in Australia

Shareholders of India’s largest bank are raising concerns about a proposed loan to Adani Enterprises Ltd. to help fund the opening of the controversial Carmichael coal mine in northern Australia.

Officials from New York-based BlackRock Inc. and Norway’s Storebrand ASA have contacted the State Bank of India, which is majority-owned by the Indian government, about the loan. The loan’s value is expected to be as much as 50 billion rupees ($678 million), according to Indian media reports.
 

The Carmichael mine has been the focus of environmental protestors since it was proposed in 2010, with demonstrations most recently at a Nov.