Adani conglomerate’s owner Gautam Adani plans to raise approximately $400 million in exchange for its key Australian coal port’s assets in debt after shrinking almost three-fifth of his empire.
As per the report of the Economic Times, this port makes up a large part of the company’s exports of fossil fuels from Carmichael mine.
As per reports billionaire, Gautam Adani’s conglomerate has nearly a $236 billion infrastructure out of which the North Queensland Export Terminal (NQXT), which is controlled by the Adanj family trust is being considered to raise funds for the group.
Adani’s works in Australian can be summed up as their operations in the Carmichael mines plus on a rail line, North Queensland Export Terminal which is an important port for Queensland coal exports and a solar farm too.
As of February 27, 2023, all of Adani group’s stocks except Adani ports, are trading in red. Adani Green has now hit a 5 per cent lower circuit.