QLD Premier requests veto for $1bn Adani loan in letter to PM

Queensland Premier Annastacia Palaszczuk has sent a letter to Prime Minister Malcolm Turnbull requesting a veto on a $1 billion concessional loan from the Northern Australia Infrastructure Facility (NAIF) for Adani’s North Galilee basin railway project.

The planned railway is a crucial element of Adani’s $16 billion Carmichael coal mine project, perhaps one of the most protested international mining projects in recent history.

Palaszczuk write in the letter that “in accordance with section 13(4) of the Northern Australia Infrastructure Investment Facility Mandate Direction 2016, my Government provides formal notification the the Commonwealth that financial assistance should not be provided to Adani for the North Galilee Basin rail project.”

The subsection mentioned by Palaszczuk in the letter, number 13(4), states that facilities must not make investment decisions on projects if the relevant jurisdiction provides written notification that financial assistance should not be provided.

The recently sworn-in premier made an election promise to try to block the loan, having become aggravated by the Liberal-National Party’s (LNP) attempts to discredit her and her partner Shaun Drabsch, ex-Labor, now PricewaterhouseCoopers, who aided Adani in its loan application. The LNP had attempted to block the premier’s attempts at a veto, accusing her of putting thousands of potential jobs at risk.

At a federal level, Labor still supports the Carmichael mine, however and NAIF had yet to take a decision on approving the loan at the time of Palaszczuk’s veto.

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