Australia Coal Port Expansion Mandate Lapsed, Lend Lease Says
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Lend Lease Group, Australia’s biggest listed property developer, won’t take part in a planned coal terminal expansion close to the Great Barrier Reef after a mandate for the project lapsed.
Lend Lease is no longer part of the AP-X expansion at the port of Abbot Point, partly due to “commercial drivers,” Chief Executive Officer Stephen McCann said today on a call with analysts. “There are a number of different competing projects and expansions up there so from our perspective the fact that it’s lapsed means we’re no longer involved.”