The deal will allow the company to increase its overall cargo-handling capacity, and aid in transporting coal from Australia to India.
The deal was signed by the company and the Queensland state government, which will use the proceeds from the sale to pay for the recovery operation due to weather disasters in the state.
Mundra Port is a unit of diversified conglomerate Adani Enterprises.
The Abbot Point Coal Terminal is expanding its capacity to 50 million tons a year in 2011.
Abbot Point is owned by North Queensland Bulk Ports Corp and has two berths.
