Adani, POSCO tie-up for new terminal in Aus to export coal.

Adani Group's Australian subsidiary recently said it has signed an MOU with a South Korean steel giant for the construction of a new strategic terminal at Abbot Point coal port to export high-quality coal globally at competitive rates.

Terminal Zero (T0) will be constructed at the port of Abbot Point near Bowen town, Queensland, as per the Memorandum of Understanding inked between the company and Korea's POSCO.

'Construction of T0 is a vital step in ensuring that exports of high quality, cost-efficient coal from mines such as Carmichael in the Galilee can be landed in markets throughout Asia competitively and at scale,' the company said.

In a statement, the company said it inked the agreement with POSCO E&C, which sees the Korean firm appointed as the Preferred Engineering, Procurement and Construction (EPC) contractor for Terminal Zero.

ET