Originally Posted by
peterc005
Adani are unlikely to mine any coal there. Think of Adani as an poorer Indian version of Enron. Behind all of the puff is not much substance, but there is a Himalayan (more cheap Indian puns) mountain of debt.
Adani needs to the coal mine to make the port (which they paid way too much for) financially viable. The debt in the port is due to roll over soon and given the port is underutilised and over-geared with debt, they have an uphill battle.
Adani need the prospect of the coal mine to sell the idea that port is financially viable to potential lenders.
Adani are making bull**** claims to all these different governments to try and wring cash out of them. Sounds like a couple of foolish councils fell for it.
I can't see the port being refinanced, meaning the banks will step in and sell it for 1/4 of what Adani paid. This will have the effect of bringing down the whole Adani group.
Remember the Indian fertiliser guy over in WA - well, you're going to see something similar here.
PeterC005, after all that abuse yer flung at WUWT i thought we'd see some facts from yer to back up yer diatribe... apparently not. As usual, All abuse, No substance..
Oh, and if we Australians via our coal exports help 250 Million Indians currently with-out power get cheap reliable power for the first time, then I will sleep better at night..
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