NSW declines bid to build new coal export port

The government of New South Wales has rejected a request by the billionaire Nathan Tinkler to build a $2.7 billion coal export terminal on the east coast of Australia. In a statement, the government pointed out that the site would be more suited to handling a raft of commodities, including containers and other dry bulks, not just coal. The projected terminal would have competed directly with a AU$5 billion project promoted by Port Waratah to expand its own existing port facilities at Newcastle. Significantly, last year,Tinkler’s attempt to buy Abbot Point Coal Terminal lost out to a bid by India’s Adani Group, which offered AU$1.8 billion.    

 

BC