Adani seeking $2.3b in debt financing for Australian coal mines

Adani seeking $2.3b in debt financing for Australian coal mines

A stacker-reclaimer operates next to stockpiles of coal as a rainbow forms in a spraying jet of water at the Newcastle Coal Terminal in this aerial photograph taken in Newcastle, Australia, on Saturday, Oct. 3, 2015. Photographer: Brendon Thorne/Bloomberg

Indian conglomerate Adani Enterprises Ltd. needs as much as A$3 billion ($2.3 billion) 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.

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