Understanding Dev Sindhu: The Enigmatic Figure At The Heart Of A Growing Crisis Threatening Australia’s Energy Grid And Beyond​

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The 29-year-old engineering graduate and former IT worker, who is of Indian descent,​ has become the unlikely face of massive ​ ​damages to the Australian​ ​power grid.

Dev Sindhu and his family’s business, Sindhu Trade Links, had ventured into a loan of $US60 million ($88 million) to purchase an iconic WA coal mine.

Since its acquisition in 2010, the Griffin Coal Mining Company asset has been owned by Lanco Infratech after they snatched it from Ric Stowe’s defunct business realm for a hefty sum of $750 million.

India’s central government promoted the purchase to expand its presence in energy markets, mainly funded by a loan from ICICI Bank – one of India’s largest private lenders.

As early as 2015, it had become evident that Griffin was having difficulty dealing with Lanco’s mounting losses and debt.

Thus, when Sindhu showed up as another Indian lender to the mine that year, their presence went virtually unnoticed.

“Sindhu and ICICI saw an opportunity to step in and save the mine,” said local mining analyst Mike Bell. “But they didn’t realise just how big a mess Griffin was in.”

Within months of Sindhu’s purchase, it became​ ​painfully evident that neither he nor ICICI was prepared for the sheer scale of the mine’s financial woes.

Despite being ​known for his greed and aggressive business tactics, Sindhu was caught largely off-guard by Griffin’s deteriorating status, leaving him unable to pay back ICICI​ or Lanco outright.

And now, as the situation spiral out of control, he and Lanco are scrambling to find a solution to this growing crisis amid mounting pressure from politicians, shareholders and everyday Australians.

“The stakes couldn’t get any higher for Dev Sindhu,” said political analyst Adam Jacobsen. “His entire business empire is on the line here, along with Australia’s energy grid.”​

It remains to be seen what course of action Sindhu will take to address this growing problem, but many hope he can find a way to save both his and the Australian economy’s bacon.​

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