Adanis' dream for concessional loan for coalmining project in Australia "dash", as Queensland govt backtracks

Queensland premier Annastacia Palaszczuk

By Our Representative
In a surprise move, Australian state Queensland’s Premier Annastacia Palaszczuk has declared that she is not going to provide concessional loan support to fund the infrastructure for the powerful Indian group Adani’s $16.5 billion Carmichael coalmine in the Galilee basin. Earlier reports said the state government had “agreed” to provide the loan.
Taking note of the development, an Australian media report commented, “Prospects for the controversial Adani coal mine have dimmed further after the government said it wanted no role in any federal loan to support the project.”
In a statement on Saturday, Premier Palaszczuk said that "consistent with our election commitments, cabinet has determined that any (Northern Australia Infrastructure Facility) loan needs to be between the federal government and Adani".
“If the NAIF does provide funds for the 388 kilometre, $1 billion-plus rail link to support the proposed Carmichael mine, it will do so without the support of the state government. The NAIF's guidelines say loans should ‘align’ with a state's needs”, the report said.
The Queensland premier was quoted as saying, "If Prime Minister Malcolm Turnbull wants to spend his money in this way, that's his decision."
Top anti-mining group Environmental Justice Australia interpreted this as meaning that Queensland has blocked any NAIF loan to Adani under the current laws. "If Queensland is not a part of any agreement for NAIF funding, then, in our view, Adani's railway line cannot receive NAIF concessional loans under the current legal framework", it said.
The NAIF abstention comes a day after the state government called a snap cabinet meeting to settle on the royalty plan to be offered to the Adani Group.
“While touted as a $16.5 billion project – excluding the railway and port expansion – the mine is looking increasingly less ambitious, if it gets built at all. Rather than 60 million tonnes, annual output is likely to be much less than the ‘mega’ scale promoted, and a price tag is closer to $4 billion at least for the start”, the report said.
The development has taken place even as mine opponents stepped up their campaign against the Adanis, saying, the project has the potential to open up a huge new coal province at a time when the world has to prepare for a net-zero carbon emissions future to curb climate change.
They also point to the vulnerability of the Great Barrier Reef where about 50 per cent of its corals have died in the past two summers alone after unprecedented bleaching caused by heat stress.
Another environmental group Get Up in a statement welcomed the development, saying, "Queensland Labor are holding firm to their promise at the last election not to throw taxpayer funds at Adani's coal rail line, by refusing to hand over money from Senator Canavan's slush fund," though adding, "The pressure is now on the federal government to put an end to special treatment for the megamine."
Meanwhile, “The Guardian” reports, the announcement by the Queensland premier “represents a significant departure from a previous deal reportedly struck with the company to cap its royalty payments, meaning Adani would only pay $2m annually over the first seven years of the mine’s operation, giving the miner a $320m loan.”

Comments

Congress 'promises' cancellation of Adani power project: Jharkhand elections

Counterview Desk
Pointing out that people's issues take a backseat in Jharkhand's 2019 assembly elections, the state's civil rights organization, the Jharkhand Janadhikar Mahasabha, a coalition of activists and people’s organisations, has said that political parties have largely ignored in their electoral manifestos the need to implement the fifth schedule of the Constitution in a predominantly tribal district.

Gujarat refusal to observe Maulana Azad's birthday as Education Day 'discriminatory'

By Our Representative
The Gujarat government decision not to celebrate the National Education Day on !monday has gone controversial. Civil society organizations have particularly wondered whether the state government is shying away from the occasion, especially against the backdrop of "deteriorating" level of education in Gujarat.

Hindutva founders 'borrowed' Nazi, fascist idea of one flag, one leader, one ideology

By Shamsul Islam*
With the unleashing of the reign of terror by the RSS/BJP rulers against working-class, peasant organizations, women organizations, student movements, intellectuals, writers, poets and progressive social/political activists, India also witnessed a series of resistance programmes organized by the pro-people cultural organizations in different parts of the country. My address in some of these programmes is reproduced here...
*** Before sharing my views on the tasks of artists-writers-intellectuals in the times of fascism, let me briefly define fascism and how it is different from totalitarianism. Totalitarianism is political concept, a dictatorship of an individual, family or group which prohibits opposition in any form, and exercises an extremely high degree of control over public and private life. It is also described as authoritarianism.
Whereas fascism, while retaining all these repressive characteristics, also believes in god-ordained superiority of race, cultur…

Girl child education: 20 major states 'score' better than Gujarat, says GoI report

By Rajiv Shah
A Government of India report, released last month, has suggested that “model” Gujarat has failed to make any progress vis-à-vis other states in ensuring that girls continue to remain enrolled after they leave primary schools. The report finds that, in the age group 14-17, Gujarat’s 71% girls are enrolled at the secondary and higher secondary level, which is worse than 20 out of 22 major states for which data have been made available.

Ex-World Bank chief economist doubts spurt in India's ease of doing business rank

By Rajiv Shah
This is in continuation of my previous blog where I had quoted from a commentary which top economist Prof Kaushik Basu had written in the New York Times (NYT) a little less than a month ago, on November 6, to be exact. He recalled this article through a tweet on November 29, soon after it was made known that India's growth rate had slumped (officially!) to 4.5%.

With RSS around, does India need foreign enemy to undo its democratic-secular fabric?

By Shamsul Islam*
Many well-meaning liberal and secular political analysts are highly perturbed by sectarian policy decisions of RSS/BJP rulers led by Prime Minister Narendra Modi, especially after starting his second inning. They are vocal in red-flagging lynching incidents, policies of the Modi government on Kashmir, the National Register of Citizens (NRC), the demand for 'Bharat Ratna' to Savarkar who submitted 6-7 mercy petitions to the British masters (getting remission of 40 years out of 50 years' sentence), and the murder of constitutional norms in Goa, Karnataka and now in Maharashtra.

Rushdie, Pamuk, 260 writers tell Modi: Aatish episode casts chill on public discourse

Counterview Desk
As many as 260 writers, journalists, artists, academics and activists across the world, including Salman Rushdie, British Indian novelist, Orhan Pamuk, Turkish novelist and recipient of the 2006 Nobel Prize in literature, and Margaret Atwood, Canadian poet and novelist, have called upon Prime Minister Narendra Modi to review the decision to strip British Indian writer Aatish Taseer of his overseas Indian citizenship.

Worrying signs in BJP: Modi, Shah begin 'cold-shouldering' Gujarat CM, party chief

By RK Misra*
The political developments in neighbouring Maharashtra where a Shiv Sena-NCP-Congress government assumed office has had a trickle down effect in Gujarat with both the ruling BJP and the Congress opposition going into revamp mode.

Post-Balakot, danger that events might spiral out of control is 'greater, not less'

By Tapan Bose*
The fear of war in South Asia is increasing. Tensions are escalating between India and Pakistan after the Indian defence minister's announcement in August this year that India may revoke its current commitment to only use nuclear weapons in retaliation for a nuclear attack, known as ‘no first use’. According to some experts who are watching the situation the risk of a conflict between the two countries has never been greater since they both tested nuclear weapons in 1998.

'Favouring' tribals and ignoring Adivasis? Behind coercion of India's aborigines

By Mohan Guruswamy*
Tribal people account for 8.2% of India’s population. They are spread over all of India’s States and Union Territories. Even so they can be broadly classified into three groupings. The first grouping consists of populations who predate the Indo-Aryan migrations. These are termed by many anthropologists as the Austro-Asiatic-speaking Australoid people.

Counterview

Search This Blog