Tag: Adani’s Carmichaal Coal project

ALP to halt govt. funds for Adani

adani mine
PHOTO: Greenpeace Australia

By News Desk

Melbourne, 14 January : If the Labor party wins the coming state elections in Queensland, one big looser will be the Adani’s Carmichaal Coal project in the Galilee Basin – one of the largest mine in the state. The project is already under cloud from environmentalists and is facing a court challenge.

A report in the ‘Guardian Australia’ says Labor will halt the ‘unprecedented’ financial support for the project pledged by the state’s conservative Liberal-National Campwell government. Indian reports,according to Guardian Australia, have indicated the Campwell government offering to invest $ 450 million in the project. The government has not confirmed the reports.

In November last year, India’s State Bank of India (SBI) in an MOU agreed to provide for a credit facility of up to $1 billion USD for the Charmichaal project.

Guardian Australia quotes Labor environment spokeswoman Jackie Trad as saying Labor will scrap hundreds of millions of dollars worth taxpayers funding for the project.

“Trad said the government was ‘arrogant and out of control’ and had refused to listen to the rural households about mining.

Mr. Adani is considered close of India’s new right wing government headed by Prime Minister Narendra Modi and last year accompanied him to the G-20 summit in Brisbane.

Adani Australia website claims the mining project will create 10,000 local jobs and contribute to $22 billion in taxes and royalties for investment into services.

- SAT News Service