Topic: Carmichael project
SBI drafted in-principle agreement with Adani in 2014 for $1bn facility & brought in several banks for funding as part of consortium. The plan has had several iterations since then.
The $16 billion Carmichael coal mine project in Queensland has been surrounded by controversies since its inception due to regulatory and environmental issues.
Outgoing Australian High Commissioner to India Harinder Sidhu says work on Adani’s Carmichael coal mine project has started, also asks India to reconsider RCEP.
Adani will lose around $220 million a year if the Carmichael coal project goes through. Which raises the question, why is everyone adamant that it goes ahead?
Lenders from Goldman Sachs Group Inc. to three of China’s largest banks have ruled out providing loans for the project.
The PLI scheme as well as other sops for manufacturing, show that despite some public missteps, government is trying to coax manufacturing into India.
European Union ban on Russian crude imports from 5 Dec will drive European refiners to buy more Middle East oil, putting them in competition with Asian buyers.
The IAF currently has 40 SU-30 MKI with BrahMos, the only supersonic cruise missile in the world.
In a highly polarised time, cornered minorities tend to lean back and protect the roots and fundamentals of what is so dear to them. Politically, it can often be a bad trap.