A PYMNTS Company

Australia: Queensland approves coal port price hikes for $5.4B expansion plan

 |  April 26, 2013

One of Queensland’s largest coal ports has been given approval by the Queensland Competition Authority to increase prices of coal it handles in efforts of the port to proceed with a $5.4 billion plan to expand. Dalrymple Bay Coal Terminal will charge an additional $0.0065 per ton of coal handled to raise the money for a project that would reportedly lead to the creation of more than 1000 jobs, nearly doubling the business. The regulator was informed of the port that mining companies have already expressed interest to use the extra space that would be acquired. The project would be quadruple the cost of an earlier expansion by the same company.

Full Content: CQ News

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.