Adani-Owned MPSEZ Acquires Abbot Point Port in Australia

Adani Group-owned Mundra Port and Special Economic Zone (MPSEZ) has completed the acquisition of Australia's Abbot Point Port Coal Terminal for A$1.8bn (US$1.94bn).

Following the acquisition the company aims to expand the port capacities from the current 50Mt to 80Mt over the next four to five years.

Work on the expansion project is expected to start in a few months.

Located in North Queensland, Australia, the Abbot terminal services three mines in the Bowen Basin.

Queensland sold the port as part of its A$15bn (US$16bn) infrastructure privatisation programme.