Adani's new line on track
A proposed coal rail line in Queensland has passed its first hurdle for a Federal Government loan.
The Government's Northern Australia Infrastructure Facility (NAIF) has been asked to consider lending money for a $2 billion, 310km rail line linking Adani's $21 billion Carmichael coal mine to the Abbot Point.
Reports say the NAIF board has completed preliminary assessments and passed the project forward for more scrutiny.
NAIF can offer a concessional loan of up to 50 per cent of the project cost, something Adani will be seeking after the Queensland Labor government ruled out funding.
Adani chair Gautam Adani is making an announcement about the project this week.
The project already has environmental approvals from the Queensland and Federal governments, but continues to be marred by legal challenges.