Adani Ports raises $500 million via bonds

Adani Ports and Special Economic Zone Ltd today said it has raised USD 500 million through bonds for funding SEZ project.
"The company has raised USD 500 million by allotment of fixed rate senior unsecured notes...The said notes will be listed on Singapore Exchange Securities Trading Ltd," the firm informed the BSE.
An open letter, dated March 16, cited public opposition,
risks to miners' health, climate change and potential impact on the fragile Great Barrier Reef as reasons for their request not to proceed with the project in the Galilee Basin.
The letter warned that the project could hit the bilateral ties, especially on the sporting and trade front.

The USD 21.7 billion Carmichael coal mine and port-cum-railhead project is said to be one of the world's largest and has already received the green signal from the federal and Queensland governments.

The project involves dredging 1.1 million cubic metres of soil near the Great Barrier Reef Marine Park, which will then be disposed of on land.
Asked for her reaction to the letter opposing the project, Palaszczuk quipped, "Those who are writing such letters have good jobs. I know how tough the people are doing in my state."
"We have had some closure of companies like Queensland Nickel and the Clive Palmer's. With the downturn in the resources industry I have had other mine closures," she said.

"This project is not just a sign of confidence in Queensland. This project by the Adanis is a sign of confidence in regional jobs for families. It will give them such a boost. And all the mayors have commented about that on this trip," the premier said.
She said the Adanis have committed to create 10,000 direct jobs and many thousands indirectly.
Palaszczuk, however, refused to set a time-line for the project, saying "that's a matter for the federal parliament. I understand that we are getting a report back today (on Friday when the interview took place).
"So, hopefully they will be able to debate it. I know it's very hot on my Prime Minister's agenda. So, I am quite sure they will debate it as soon as they possibly can," the premier said.

She also said the federal parliament will sit in the near future to get the piece of legislation through as the project is a high priority for them.