Indian developer might junk giant Australian coal project
29 Jun 2015
India’s Adani Group is likely to withdraw from the $16 billion Australian coal mining project, touted as the world's largest, due to concerns over softening international coal prices, relentless attacks by environmentalists and delay in regulatory clearances.
The $10 billion infrastructure conglomerate, according to sources, is concerned about the slow pace of clearances and, to begin with, has decided to halt engineering work in the Carmichael mines in Queensland as well as on its rail line and expansion of Abbot Point port.
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