India's Adani Group Bids for Port of Brisbane

An Indian company is bidding for the $2 billion privatisation of the Port of Brisbane along with two other groups led by Morgan Staley Infrastructure Fund and Global Infrastructure partners respectively.

The Indian company Adani Group is also hoping to put in its bid before the deadline this month.

The Adani Group manages India's largest private port at the Mundra Port and Special Economic Zone. The Gujrat based conglomerate is headed by the 49 year old billionaire Gautam Adani. At the moment there are no comments on the proposed bid from the company.

The Adani Group has also been granted permission to develop a new coal port in north Queensland at Dudgeon Point. It has also agreed to buy the Galilee coal project also located in Queensland from Linc Energy in a deal worth $2.7 billion involving cash and royalty.

The Bligh government is currently offering a 99 year lease at the port under a land lord style model to the company which will develop it.