Abbot Point coal terminal: Westpac may not refinance Adani loan

Report reveals Adani needs to refinance $2bn of loans for Abbot Point coal terminal, which is more than it paid for it in 2011Adani's financing for its proposed Carmichael coalmine could face a further hurdle, with Westpac appearing to indicate it will not refinance its existing loan to Adani's coal terminal at Abbot Point.A recent report by the Institute for Energy Economics and Financial Analysis (Ieefa) revealed Adani needed to refinance more than $2bn worth of loans for its Abbot Point coal terminal in the coming year - an amount that is more than it paid for the port in 2011. That means the company has negative equity on the facility - owing banks more than it is worth. Continue reading...