News has emerged that India’s Finance Minister, Arun
Jaitley, will meet with Finance Minister Mathias Cormann and Chairman of the
Future Fund, Peter Costello, on an Australian visit aimed at trying to secure
subsidised government funding for Adani’s proposed coal mega-mine.
Having utterly failed to attract finance from the commercial
banking sector for the initial A$10 billion required for the mine, rail and
port project, Adani is now looking to its friends in the Indian and Australian
government for a little sugar. The Abbott-Turnbull Government has remained
staunch supporters of the Carmichael mine but, knowing how unpopular it is with
the electorate, would want to find a way to finance it that flies under the
radar. A direct handout in the form of a grant is too obvious, but the Future
Fund presents several opportunities for a sly multi-billion dollar investment.
Read the Market Forces
story - “How could the Future Fund finance Carmichael coal?”
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