Adani Ports sells Australian rail logistics unit to parent Adani Enterprises
June 27, 2021
Move underpins its strategy to improve ESG rating
Adani Ports and Special Economic Zone Ltd (APSEZ) has sold its investment in Bowen Rail Company Pty Limited (BRCPL), the rail logistic unit in Australia, to Adani Global Pte Limited, for an undisclosed value as India’s biggest private port operator looks to become carbon neutral and improve its environment, social and governance (ESG) ratings.
APSEZ executed the Share Purchase Agreement with Adani Global Pte Limited (Singapore subsidiary of Adani Enterprises Limited) for the sale of investment in BRCPL, APSEZ said in its annual report for 2020-21.