Adani to build new port in Australia

India’s Adani group has been selected as the preferred
developer of a new coal export terminal at Dungeon Point in
Australia, which will be operated as part of a 99-year lease.
This move is unusual in that it will be the first time a foreign
company will have been allowed to lease land to build an
export terminal in Australia. It will be capable of handling
30mt (million tonnes) to 60mt per annum and could require
investment of Investment could well reach $2.57 billion.
The concession will be granted by North Queensland Bulk
Ports Corporation which reports directly to the government
of Queensland. A feasibility study was due to be completed
by October this year, after which the exact design of the longterm
project will be made.
The location of Dungeon Point, 4km north of the existing
coal facilities at Dalrymple Bay and Hay's Point, would allow it
to act as a major facility for export coal from the Bowen
Basin, which has some of world’s best reserves of coking,