Adani ready to sell Abbot Point stake
Investment bank Rothschild has been appointed by Adani to sell a stake in its Port of Abbot Point port operations in Australia's Queensland.
The Abbot Point terminal is in a deepwater port north of Bowen in Queensland, for which Adani acquired a 99-year lease in 2011. It is a major coal export gateway, with about 25.4 million tonnes of coal passing through in 2016–17.
The port would also be the outlet for coal coming from Adani’s proposed Carmichael mine in Queensland’s Galilee Basin.
The company has faced political and environmental opposition to the mine proposal and the sale of a stake at Abbot Point is seen as way for Adani to raise the finance needed to get traction for the mine project.
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