Adani Ports acquires Australia’s Abbot Point Bulkcoal

Adani Ports and Special Economic Zone Limited (APSEZL), through its subsidiary Abbot Point Operations (APO), has entered into an agreement to acquire the ownership of Australian company Abbot Point Bulkcoal Pty Limited (APB). APB operates and maintains the Abbot Point Coal Terminal in Queensland. Under the agreement, APO will acquire 100 per cent shares of APB from Glencore Coal Queensland Private Limited for an estimated amount of AUD 19.25 million, upon receiving the requisite approvals. The acquisition of APB will allow APSEZL to operate the 50 million tonne per annum capacity terminal on a cost-plus basis without any capital investment.