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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
After acquiring the Carmichael rail project in 2017 from a promoter-owned entity, Adani Enterprises brings in the same firm as a joint venture partner.
Editor's note: In 2011, when the Adani group acquired the Carmichael coal mine in Australia, it faced a major challenge: how to actually move the coal out from the mine located in the North Galilee Basin of Queensland to Abbot Point port, from where it would be loaded on bulk carriers headed for India. The distance from the mine to the nearest railhead was over 200 km. And so, the Adani group embarked on a project to build a railway line. This line was originally housed under Carmichael Rail and Port Singapore Holdings Pte, a Singapore-based company with Vinod Adani (chairman Gautam Adani’s elder brother) as director until this February. The line required nearly $1 billion in funding, and was key to making the coal mine viable. In 2017, the Adani group had sought an Australian government loan for its construction but failed to receive it, even as protests against the project gathered momentum. While it was widely assumed that the railway line was still under the Singapore entity, a closer look at the annual reports of the India-listed group flagship Adani …
A proposed SEC settlement lifts the biggest overhang on the Adani Group—its access to US capital markets.
The Adani group plans to spend Rs 1 lakh crore over the next five years to develop its airport business. While everything—including the funding—is sorted, a prolonged war could disturb the math.
Despite a higher offer, creditors chose Gautam Adani’s Adani Enterprises—setting up a courtroom fight that raises questions over the bankruptcy resolution process’s priorities.
