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NAIF funding decision for Adani not until end of year

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Indian energy giant Adani will not find out whether it has received an almost $1 billion concessional loan from the taxpayer-funded $5 billion Northern Australia Infrastructure Facility until later this year, just before it is supposed to be delivering financial close on the controversial $16.5 billion Carmichael mine.

Amid growing doubts about whether the Adani project will ever get off the ground, Resources and Northern Australia Minister Matthew Canavan said the seven-person NAIF board was still assessing five proposals, including Adani's rail link, and a decision was not expected until the end of the year.

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Mark Ludlow writes on politics, energy and infrastructure based in Brisbane. Connect with Mark on Twitter. Email Mark at mludlow@afr.com
Peter Ker covers resource companies for The Australian Financial Review, based in Melbourne. Connect with Peter on Twitter. Email Peter at pker@afr.com

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    Original URL: https://www.afr.com/business/energy/naif-funding-for-adani-not-until-end-of-year-20170607-gwm50a