Adani's complaints about veto impact dismissed by QLD gov
THE Queensland government has responded after Adani Australia's CEO publicly admitted they were shaken and unprepared for the decision by the government to veto the NAIF loan for their railway line.
After years of delays and hurdles to overcome in realising their Carmichael coal mine project, Adani Australia CEO Jeyakumar Janakaraj was caught by surprise after Premier Annastacia Palaszczuk announced the veto plans at a media conference one week into the state election campaign.
It consequently resulted in Adani being forced it to redo its financing for the mine, port and rail project in central Queensland and cancel an agreement with engineering firm Downer EDI to build the mine.
The Palaszczuk Government has dismissed Adani's complaints about the impact of the Northern Australia Infrastructure Facility (NAIF) veto.
"Adani representatives themselves have claimed as far back as 2015 that the commercial viability of their project was not dependent on public funding and in fact started developing their project six years before the NAIF was established,'' a Palaszczuk Government spokesman said.
"We are confident that even though the company has not met its own self-imposed financial close deadline, this will not deter the project as has been the case previously.''
Read the full story here: Labor rejects Adani's complaints