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July 2017
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Assam floods: BJP MP demands Rs 12,000 assistance        Rahul blames Modi for "burning" Kashmir        Congress shocked as strongman Vaghela quits        Kovalam MLA M Vincent booked for rape        Travancore Titanium factory accident: 1 killed and another injured        Actress attack case: Pradeesh Chacko says mobile phone destroyed        Vadakara CPI(M) office set ablaze        Kovind gets least no. of votes from Kerala        Nurses’ strike ends as govt promises minimum salary        Medical college bribery allegation: Vigilance Director orders probe        Lynching debate in Parliament: Don't give it political colour, says Jaitley; Sikhs lynched in 1984, says Javadekar        Donald Trump goes after his own attorney general, publicly and viciously        US senator John McCain diagnosed with brain tumor: Office        ICC WWC 2017: Harmanpreet's epic knock helps India beat defending champions Australia by 36 runs; play England in final        R Ashwin slammed for Chennai Super Kings, Manchester United’s Munich crash comparison        Chelsea to pay up club record fee to sign Alvaro Morata from Real Madrid        Ram Nath Kovind is India's 14th President        Cracking GATE Mechanical Engineering Easy or Difficult? Check GATE syllabus.        28 killed as bus falls into gorge        Kangana Ranaut injured during shooting        
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Business News
'Adani to decide on investment in Australia coal mine soon'
 
(Melbourne, May 11, 2017): Indian energy giant Adani today said a final investment decision on its 21.7 billion dollar Carmichael coal mine project in Australia's Queensland state was expected within this month.

The controversy-hit Carmichael coal mine project, one of the world's largest, is expected to start construction this year after being given the green light by the federal and Queensland state governments.

Adani said a 900 million dollar loan to build a railway line to Carmichael coal mine is now critical to the project, despite previously insisting that the company did not need the loan, the Australian Broadcasting Corporation reported.

"All commercial elements of the financial equation are regularly reviewed. They have moved from where they were some months ago," company spokesman Ron Watson was quoted as saying by the report.

Adani said a final investment decision on the Carmichael mine and rail project was expected within the next two to three weeks, opening the way for construction to start in August, the report said.

The spokesman said the details of financing were expected to be finalised by the end of the year.

The project, which involves dredging 1.1 million cubic metres of spoil near the Great Barrier Reef Marine Park to be later disposed off on land, last month received approval for a water licence from Queensland state government.

The 400-kilometre railway line would link Carmichael coal mine in Queensland's Galilee Basin to the port at Abbot Point, north of Bowen town.

The company signed a 74 million dollar landmark deal with Australian steel group Arrium on May 4 to buy steel for the rail line.

In December, Adani had applied for the loan to build the line through the North Australian Infrastructure Facility (NAIF), which was set up to encourage private sector investment in the region, it said.

According to rules, NAIF can only support projects that are "unlikely to proceed or will only proceed at a much later date, or with a limited scope, without financial assistance", the report said.

Meanwhile, Adani Australia has been advised by Federal Opposition Leader Bill Shorten that the Australian Labor Party will offer bipartisan support to the Commonwealth government's amendments to the Native Title Act, the company said in a statement.

The amendments will be presented to the Senate next month.

"Adani Australia welcomes the bipartisan approach which will benefit Traditional Land Owners, facilitate more than 120 projects, and generate tens of thousands of jobs across Australia," the company said.

Shorten, who in the past has extended his support to the project, was opposed to the granting of a Commonwealth loan, the ABC reported.

The proposed railway line would be open to other users, with Minister for Northern Australia senator Matt Canavan saying it had the potential to spur at least another three mining ventures.

"The level of wealth that could be unlocked is comparable to that of the Hunter Valley or the Bowen Basin," Canavan said.

The Carmichael coal mine project has been dogged by delays, facing opposition from several environmentalist groups as well as members of the indigenous community.

Green groups are opposed to the project, saying carbon emitting fossil fuels should be phased out to tackle climate change.

The Adani group entered Australia in 2010 with the purchase of the greenfield Carmichael coal mine in the Galilee Basin in central Queensland, and the Abbot Point port near Bowen in the north.(PTI)


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KERALA NEWS
Kovalam MLA M Vincent booked for rape
 (Thiruvananthapuram, Jul 21, 2017, PTI): A Congress MLA has been booked on the charge of rape  
Travancore Titanium factory accident: 1 killed and another injured
Actress attack case: Pradeesh Chacko says mobile phone destroyed
Vadakara CPI(M) office set ablaze
INTERNATIONAL NEWS
Donald Trump goes after his own attorney general, publicly and viciously
 (WASHINGTON,July 20, 2017):In a stunning public rebuke of a key member of his cabinet, US Pre
US senator John McCain diagnosed with brain tumor: Office
Turkey changes justice, defense ministers in cabinet shuffle
UK Chief of Defence Staff to visit India this week
NATIONAL NEWS
Assam floods: BJP MP demands Rs 12,000 assistance
 (New Delhi, Jul 21, 2017, PTI): The Centre should urgently provide Rs 12,000 crore to Assam t
Rahul blames Modi for "burning" Kashmir
Congress shocked as strongman Vaghela quits
Lynching debate in Parliament: Don't give it political colour, says Jaitley; Sikhs lynched in 1984, says Javadekar
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