Adani Group Bids for Australian Port

11 October 2010 (Last Updated October 11th, 2010 18:30)

Adani Group is planning to make a A$2bn (US$1.9bn) bid for the Port of Brisbane in Australia, which is being privatised by the Queensland Government. According to reports, two groups led by Morgan Stanley Infrastructure Fund and Global Infrastructure Partners have also registered bids for

Adani Group is planning to make a A$2bn (US$1.9bn) bid for the Port of Brisbane in Australia, which is being privatised by the Queensland Government.

According to reports, two groups led by Morgan Stanley Infrastructure Fund and Global Infrastructure Partners have also registered bids for the port.

The Indian firm, which manages a private port in Mundra, India, has already secured the right to develop a new coal port at Dudgeon Point in north Queensland.

Adani previously agreed to buy the Galilee coal project in Queensland from Australia’s Link Energy in a cash and royalty deal worth US$2.7bn, according to Reuters.