Adani Ports Acquires Australia’s APB

Adani Ports has signed a pact to acquire Australian firm APB for AUD 19.25 million (about Rs 97.5 crore).

Abbot Point Operations Pty Ltd (APO), an Australian subsidiary of Adani Ports has entered into an agreement to acquire ownership of Abbot Point Bulkcoal Pty Ltd (APB).

Abbot Point Bulkcoal Pty Ltd is performing the operations and maintenance activities of Abbot Point Coal Terminal in Queensland, Australia.

Abbot Point has currently one operating terminal named Adani Abbot Point Terminal having firm take or pay contract for 50 million tonne per annum (MTPA) cargo.

The Adani Group is one of India’s leading business houses with revenue of over USD 10 billion.