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Another Set Back for Adani's Carmichael Mine Project: Learnings for Power Developers

News

Adani Group's financial advisor for its ambitious $7-billion Carmichael mine project, Commonwealth Bank of Australia, has exited after a federal court revoked environmental clearance. At a time when Adani Mining is struggling to raise funds as lenders are wary of the project's financial viability and local protests against it, this comes as a big setback since it was expected that Commonwealth Bank of Australia could also be lead lender

Source : ET

SNP Insight

The Australia's largest coal mine project has been entangled in the complex issues of environmental clearances over the past five years. Now with the exit of potential lead banker from the project, the viability of the projects are questioned. Securing Environmental Clearances well within a given timeframe for overseas assets still remains as a challenge. So in turn the Big Power Developers in India need take due deligence while scouting for overseas assets acuisition as securing Imported coal might no more be an easy game.

Source : SNP Infra Research