India’s largest coal importer, Adani’s Australian subsidiary has signed an MoU with POSCO E&C, a South Korean Steel giant.
Adani & POSCO E&C have signed an agreement Memorandum of Understanding based on the development of new coal terminal named Terminal Zero (T0) at Abbot Point Australia. The new projected terminal is a crucial step, which may help to supply cost efficient and high quality coal globally. T0 will have a capacity of 40 MnT pa initially with an expansion to 70 MnT in its second phase.
During the past five months, Adani and POSCO E&C have strengthen and developed their relationship through their joint efforts on the Rail Project.
Expected Advantages from Terminal Zero (T0)
- The projected terminal (T0) may help to provide high quality coal in cost effective prices
- Adani’s new expansion expected to deliver 10,000 jobs in Queensland Australia
- It may gives an opportunities for small & medium sized enterprises in the region, and USD 22 billion in taxes and royalty from integrated project to be delivered support into lead services
“I am very pleased to say this relationship now extend to Adani’s Terminal Zero Project at Abbot Point Port,” POSCO E&C’s CEO Tae-Hyun Hwang said.
POSCO E&C has appointed for the project as the Preferred Engineering, Procurement and Construction (EPC) contractor. The company has a long history of delivering successful projects in the world.
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