SYDNEY: Indian conglomerate Adani Enterprises Ltd needs as much as A$3bil (US$2.3bil) in debt financing to help start producing Australian coal from one of the world’s largest mines, after major banks from Sydney to New York said they don’t want to lend to polluting fossil-fuel projects.
The company is seeking A$2bil to A$3bil from lenders, including from banks in China, for the first phase of developing the Carmichael mine and a rail line in Australia’s northeastern state of Queensland, according to a person with knowledge of the matter.
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