Queensland vetoes plan to support loan to Adani

Melbourne, December 12

In a setback to India’s energy giant Adani, the newly-elected Queensland government has vetoed a plan to give a 900-million dollar concessional loan for the construction of a rail line in the controversy-hit Carmichael coal mine project in Australia.

The Adani Group had applied for the Northern Australia Infrastructure Facility (NAIF) loan worth 900 million dollars for building the 388-km rail line to connect the major coal mine to the sea port.

Queensland Premier Annastacia Palaszczuk, after being sworn in, wrote to Prime Minister Malcolm Turnbull to veto an almost $1 billion concessional loan for the Adani mine, Brisbane Times reported. — PTI