June 4: Gautam Adani speaks during an interview with Reuters at his office in Ahmedabad, April 2, 2014.Gautam Adani speaks during an interview with Reuters at his office in Ahmedabad, April 2, 2014.
Indian conglomerate Adani Enterprise Ltd may walk away from its proposal to build one of the world's biggest coal mines in Australia, citing long delays caused by legal challenges to the project by groups concerned about the environment.
Adani is battling multiple legal challenges from green groups opposed to its $10-billion Carmichael mine, rail and port project.
The Australian on Saturday reported that the company's founder and chairman, Gautam Adani had told the newspaper the company may abandon the project because of long delays due to legal challenges. Australia's Queensland state government in April gave Adani permission to mine coal reserves estimated at 11 billion tonnes and to build roads, workshops, power lines and pipelines associated with the mine.
Environmentalists, however, are still fighting the approval on numerous fronts, including lobbying banks not to provide loans. ?Reuters