Adani likely to get Chinese loans for Australia project

Agencies
November 22, 2017

Melbourne, Nov 22: Indian mining giant Adani is close to securing loans from China to build a 388-km railway in Queensland for its controversy-hit 16.5 billion dollars Carmichael coal mine project, a media report said today.

According to the report, days ago, a director of Adani Mining, an Australian subsidiary of the Adani Group's flagship company Adani Enterprises, told industry figures that the company had secured Chinese funding for the mine and the rail project between Abbot Point and Galilee basin in Queensland.

"Adani Group is close to securing finance with an announcement expected in coming weeks that Chinese state-owned enterprises, banks, and export credit agencies are backing the venture," the Australian Broadcasting Corporation (ABC) reported.

The company, however, rejected the claim in a statement saying, "There have been incorrect reports in the media this morning stating that Adani is no longer seeking a loan from the NAIF".

It said that Adani has not sought to become a subject of contention in the current Queensland election campaign and that it has held productive meetings with a wide-range of financiers for the Carmichael Mine and associated infrastructure.

The ABC report claimed the director had said that Adani would not need the loan from the Northern Australian Infrastructure Facility (NAIF) to fund the 388-kilometre railway.

It claimed a formal announcement of "financial close" was imminent and that "China's money will come at the cost of local jobs".

"However, this does not negate the need for support from the Federal and State governments including a NAIF loan every cent of which will be repaid by Adani with interest," the company said.

"The purpose of NAIF is to provide loans for economic infrastructure and, again, every cent of this loan will be repaid with interest. The infrastructure Adani is building will be common user infrastructure and will be able to be used by other projects creating opportunities for further jobs and investment," it said.

The company reiterated its commitment to Queenslanders particularly regional Queenslanders which it said remained "rock solid".

"Unlike some who are reducing their presence in regional centres, Adani will never tradeoff local jobs for short-term benefit. In fact, Adani's regionalisation strategy has cost the company money, not saved money," the company said.

Meanwhile, protesters opposing the project continued to stop the construction work by trying to occupy Adani's Townville office.

Last month, it was revealed that Australian federal ministers had written a formal letter to the Chinese government to confirm that the controversial coal project had passed all necessary environmental approvals.

Adani and the Queensland government have highlighted that the mine, which after its completion will be Australia's largest coal mine, will prove beneficial for the region.

Adani has claimed the massive project will create 10,000 direct and indirect jobs in central Queensland.

The company, which has managed to clear 200 stringent conditions for the project and several legal challenges from environmental groups, is aiming to start exporting coal via its Abbot Point coal terminal in 2020.

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News Network
November 17,2024

Mangaluru: District-in-Charge Minister and Minister for Health and Family Welfare, Dinesh Gundu Rao, announced that a day-care chemotherapy centre will soon be established at District Wenlock Hospital. Speaking to mediapersons after reviewing the activities at Wenlock and Government Lady Goschen Hospital, he shared the government’s plans to enhance healthcare services in the region.

Key Initiatives Announced

•    Day-Care Chemotherapy Centre:

  • Ten beds will be reserved for cancer patients.
  • The government will collaborate with Yenepoya Hospital to provide chemotherapy treatments.
  • All required facilities for the centre are already in place, awaiting inauguration by the Chief Minister.

•    Wenlock Hospital Facelift:

  • Critical Care Block: To be built at a cost of ₹24 crore.
  • Integrated Public Health (IPH) Lab: Planned with a budget of ₹1 crore.
  • New OPD Block: As per a 2017 agreement, KMC Hospital will take up construction. Discussions with KMC management are underway.

•    Additional Requirements:

  • A new mortuary and post-mortem building.
  • Paramedical college building.
  • Modern kitchen.
  • Bridge connecting two buildings within the hospital.

•    Total facelift cost: ₹6 crore to ₹10 crore, utilizing funds from the Department of Health and Family Welfare and CSR contributions.

•    Timeline:
By December or January, priority works will be finalized. The superintendents of Wenlock and Lady Goschen Hospitals are scheduled to visit Bengaluru next week to discuss these projects.

•    MRI Fee Allegations:
The minister assured that allegations of patients being charged for MRI scans at Wenlock Hospital will be resolved at the earliest.
These measures aim to improve healthcare accessibility and infrastructure, positioning Wenlock Hospital as a state-of-the-art facility in the region.

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News Network
November 21,2024

modiadani.jpg

After the US prosecutors charged Gautam Adani with bribery and fraud, Congress reiterated its call for a Joint Parliamentary Committee (JPC) probe into the transactions of the Adani group, and hit out at Prime Minister Narendra Modi, alleging an "internal nexus" between him and "his favourite businessman."

Senior Congress leader Jairam Ramesh said the indictment of Gautam Adani and others by the US Securities and Exchange Commission validates his party’s call for a Joint Parliamentary Committee investigation.

The Congress has been pushing for the probe since January 2023, raising concerns over alleged irregularities involving Adani and his business dealings, said Ramesh.

Ramesh referred to the party’s “Hum Adani ke Hain” series, where 100 questions were raised about the alleged scams and the links between Prime Minister Narendra Modi and Gautam Adani.
He noted that the questions remain unanswered, reiterating the need for accountability in the matter.

The US prosecutors have charged Adani with deceiving investors by concealing information about his firm's solar energy project in India, which allegedly involved bribery.

Adani has been charged with securities fraud and conspiracy, according to an indictment unsealed on Wednesday. The case focusses on an agreement between Adani Green Energy Ltd. and another organisation to supply 12 gigawatts of solar power to the Indian government.

'BETRAYAL OF INDIAN INVESTORS'

Congress leader Pawan Khera described the allegations against Gautam Adani and his conglomerate as a “betrayal of Indian investors.”

Taking to X, Khera outlined the US charges, including claims that Adani’s group bribed Indian government officials between 2020 and 2024 to secure contracts. Citing media reports, he also pointed out that Gautam Adani personally met a government official to advance the scheme.

Khera referred to a March 2024 incident where the Adani Group allegedly misled the Bombay Stock Exchange and the National Stock Exchange, calling it a “grave violation of investor trust.”

He further highlighted a March 2023 FBI raid on the premises of Sagar Adani, Gautam Adani’s nephew, where electronic devices were seized as part of the investigation.

'SEBI NOT ABLE TO PROVE ANY CHARGES AGAINST ADANI'

Shiv Sena (UBT) leader Priyanka Chaturvedi criticised central probe agencies following US charges against Gautam Adani and others in an alleged bribery case linked to solar energy contracts.

Chaturvedi raised concerns about corporate governance and regulatory oversight in the country. “They talk about corporate governance, responsibility, and accountability. The industrialists should be asked to follow the rules and regulations, but even the agencies were defending him. The SEBI has not yet been able to prove charges against him,” she said, pointing to what she viewed as failures in ensuring accountability.

'BROUGHT DISREPUTE TO INDIA'

On US charges against Gautam Adani, AAP leader Sanjay Singh called for a probe against the industrialist. He said that the probe should be conducted by an investigation agency under the Supreme Court.

"Adani Group has brought disrepute to India. This is a very serious matter. The PM of India should come forward and answer this. All the pending matters against Adani should be probed by an investigation agency under Supreme Court monitoring, and all the corruption done by him, within and outside the country, should come out before the country and action should be taken against him," he said.

BJP DFENDS

BJP IT cell chief Amit Malviya responded sharply to the Opposition’s criticism regarding allegations involving Adani Green Energy and US-based Azure Power. He pointed out that the charges in the indictment are only allegations and emphasised, “The defendants are presumed innocent unless and until proven guilty.”

Malviya argued that the crux of the case concerns agreements to supply 12 GW of power to the Solar Energy Corporation of India (SECI), contingent on SECI securing power purchase agreements with state electricity distribution companies (SDCs).

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News Network
November 10,2024

Bengaluru: The Karnataka government has warned that disciplinary action will be taken against those officials who change the land mutation records and serve eviction notices to farmers under the Waqf Act.

In a letter, the Revenue Department Principal Secretary Rajender Kumar Kataria reminded all regional commissioners and deputy commissioners in the districts that Chief Minister Siddaramaiah recently had a meeting following complaints about certain land properties being made in favour of the Karnataka Board of Waqfs.

In the meeting it was decided that all the directions issued previously by any government office or authority to change the mutation records has been withdrawn, the letter said.

It added that all the notices served in the past have also been withdrawn and no action should be taken against the farmers who are cultivating on the said land.

On the directions of the chief minister, the previous letters and the latest reminders served on November 7 to the farmers and land owners have been withdraw, the letter said.

"The officials who served reminder-2 despite the chief minister's direction will face appropriate disciplinary action," Kataria said in his letter.

He said he has been instructed to strictly implement the chief minister's direction.

The fresh direction was issued in poll-bound Karnataka, where bypolls to three crucial assembly segments are due on November 13.

Some farmers in Honwad village in Vijayapura in north Karnataka had alleged last month that they were served eviction notices as the Waqf Board claimed rights over it.

Subsequently, complaints started in pouring in from some other parts of the state.

BJP leader Tejasvi Surya on October 25 alleged that Karnataka Waqf Minister B Z Zameer Ahmed Khan directed the deputy commissioners and revenue officials to register lands in favour of the Waqf Board within 15 days, which resulted in confusion.

On Surya's request, the Chairman of the Joint Committee of Parliament on the Waqf (Amendment) Bill, Jagdambika Pal visited Karnataka on November 7 and met farmers in Hubballi, Vijayapura and Belagavi districts who had alleged that their lands were marked as Waqf properties.

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