Queensland Coal Port Expansion Scaled Down

Reuters reported that expansion of the Abbot Point coal port would be significantly scaled back.

As quoted in the market news:

Under a new proposal, construction of a second and third termainal would proceed, but plans to expand to a total of nine te rminals would be abandoned. The revision follows the election in March of a new conservative state government in Queensland, home to the coal producing Bowen Basin.

Click here to read the full Reuters report.