Adani's Giant Australian Coal Mine Takes Hit as Rail Plan Axed
(Bloomberg) -- Adani Enterprises Ltd. can’t catch a break.
The Indian conglomerate trying to build one of the world’s largest coal mines has already had its own funding bid for a rail line stymied by the Queensland state government. Now, a funding proposal for another line that could carry its coal to the coast for export has been canned.
Rail operator Aurizon Holdings Ltd., which hoped to build a common-user rail link to open up the thermal coal-rich Galilee Basin, said Friday it was withdrawing its application because it hadn’t locked in any contracts with customers.
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