Delhi MCD Election Results 2017

Source: media reports

Adani gets 190ha for Australia terminal

Adani gets 190ha for Australia terminal
Comment E-mail Print Share
First Published: Fri, Dec 16 2011. 10 52 PM IST

By Bloomberg
By Bloomberg
Updated: Fri, Dec 16 2011. 10 52 PM IST
Bangalore: The government of Australia’s Queensland state has allotted 190 hectares (ha) of land to Adani Mining Pty Ltd, a unit of Ahmedabad-based Adani Group, to set up a coal export facility at Dudgeon Point in the Hay Point port.
By Bloomberg
The $5-6 billion (Rs 26,400-31,680 crore) project will begin construction in mid-to-late 2013 after completing environment impact studies. It will add as much as 90 million tonnes (mt) of annual coal export capacity, relieving pressure on the adjacent Dalrymple Bay and Hay Point terminals.
The new terminal will start exporting coal in 2015-16, according to the website of North Queensland Bulk Ports Corp., the authority overseeing Hay Point port.
Adani Mining was selected as a preferred bidder to build a new coal export terminal following a competitive tender process in June 2010.
“Now we have been given the rights by the Queensland government to develop one of the two new coal export terminals at Dudgeon Point,” said Rajeeva Sinha, a director at Mundra Port and Special Economic Zone Ltd(MPSEZ), the port operating unit of Adani Group and India’s biggest private port operator. “We have been informed about the land allotment, which is a significant step forward in the construction of the new terminal.”
The proposed terminal will include rail loops and dump stations, stockyards and eight new offshore berths.
In 2010, 80.7 mt of coal was shipped through Hay Point— 27% of Australia’s total exports—compared with an annual capacity of 129 mt. Volumes this year till October were about 20% lower than in 2010 due to a flooding earlier this year.
“The expected output from new projects and expansions in the state, however, will push the port to its limit within a few years,” said London-based shipbroker ICAP Shipping Ltd. “Based on plans from Australia’s largest coal miners, there is more than 70 mt of additional annual coal output from Queensland expected by 2015.”
MPSEZ acquired the Abbot Point coal terminal in Australia for about $2 billion in May to tap the growing coal traffic in overseas markets and to ship coal from its Galilee coal project in that country to power plants in India.
The Adani Group acquired the Galilee coal project in August 2010 for $2.7 billion, marking the largest single mine investment by an Indian firm into Australia.
Adani is developing the Galilee Basin coalfield, which has a production target for exporting thermal coal of 60 mt a year. It is due to start shipments in 2014.
The new coal export terminal at Dudgeon Point will be a captive-cum-multi-user facility, MPSEZ’s Sinha said.
p.manoj@livemint.com
Comment E-mail Print Share
First Published: Fri, Dec 16 2011. 10 52 PM IST
More Topics: Adani | Coal | Australia | Terminal | Mining |