1. Home
  2. Business
  3. Adani cancels $2.6 bn contract with Australian mining services company Downer

Adani cancels $2.6 bn contract with Australian mining services company Downer

By Team Pardaphash 
Updated Date

Melbourne: Adani today mentioned that it has cancelled a $2.6-billion contract with Australian mining services company Downer as part of a cost-cutting drive, a week after the Queensland government vetoed a concessional loan to the Indian giant for the controversy-hit Carmichael coal mine.

Also Read :- Rupee continues to fall, opens at all-time low of 81.54 against US dollar

The split comes after Downer was the target of a nationwide activist campaign pressuring them to quit the $16.5-billion project in central Queensland, the ABC News reported.

In a setback to India’s energy giant Adani, the newly-elected Queensland government last week vetoed a plan to give a $900-million 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 for building the 388-km rail line to connect the major coal mine to the sea port. The $16.5-billion Carmichael coal mine project is one of the world’s largest.

The move to cancel the contract raises further questions about the fate of the massive project, with Downer one of only two mine contractors – along with Thiess – considered capable of handling an operation producing up to 60 million tonnes of coal a year, the report said.

Also Read :- Albert Bourla, CEO of American pharma co. Pfizer tests +ve for COVID for 2nd time in 6 weeks

For the latest news and reviews, follow us on Facebook, YouTube and Twitter पर फॉलो करे...