Adani Enterprises aims to tie-up financing for its Carmichael coal mine project in Australia by March 2018, a senior company executive told Reuters, adding it would look to sell a minority stake in the project to help raise funds.
Adani's planned project in the remote Galilee basin in northeast Australia has been delayed for years after opposition from environmental groups forced banks to stay away from funding what is the biggest coal mine in the country.
"By the end of this financial year, all things will be in place," Jeyakumar Janakaraj, chief executive officer of Adani Australia, said. While physical construction at the mine is scheduled to start in the next few weeks, Janakaraj said the company was in talks to secure export credits and lease out mining activities.