/ Adani Enterprises Reaches Out To NAIF For New Funds ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Tuesday, 14 March 2017

Adani Enterprises has applied for financing from an Australian infrastructure fund, to lay a rail line that is part of a $16-billion coal project in the state of Queensland, said the Australian Resources Minister in a statement.

The market observers believe that a fresh inflow of funds from the Northern Australian Infrastructure Facility (NAIF) would empower Adani, after certain banks backed out from the controversial coal projects rolled out by Adani in Australia.

Since the inception of the project, Adani’s Carmichael project faced many hurdles from several green groups, who say that this project will contribute to global warming in the forthcoming years.

NAIF was established by the Australian Government last year to promote and boost economic development of Australia’s northern part, by offering financial aid to infrastructure projects, which include airports, railroads and ports.

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