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 2011

Adani'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.