Australia's Queensland state has said that 30 global coal companies are interested in the expansion project for the Abbot Point coal export terminal which is worth A$6.2 billion ($6.6 billion). The expansion project will make the port the world's biggest coal export terminal, increasing its annual shipment capacity sixfold to 300 million mt. The expanded Abbot Point may start shipments as early as 2017, the statement said.
Adani Enterprises Ltd., India's biggest coal importer, in May agreed to pay A$1.8 billion for a 99-year lease to operate the port.
Additionally, the Brazilian miner Vale, the world's biggest iron ore producer with a number of coal assets in Australia, announced last month that it was interested in developing one of the terminals.
The expansion project in question will help to meet rising coal demand as China and India, the world's fastest growing major economies, produce more electricity and steel.