Qube set to nab Newcastle Agri Terminal


Export grain facility to be added to imposing NSW port portfolio

Qube set to nab Newcastle Agri Terminal
Newcastle Agri Terminal

 

Qube is soon to gain another regional port grain facility, with a deal to buy Newcastle Agri Terminal (NAT) through subsidiary Qube Agri.

The bullish transport, logistics and port services firm is to pay about $90 million from undrawn debt facilities to existing shareholders CBH, Viterra Australia, Riverina and CTC Terminals.

"There are conditions precedent to be satisfied common with a transaction of this nature and subject to these, completion will occur on September 30, 2021," it said.

"The acquisition provides Qube additional geographical diversity and service capability to enhance the company’s ability to provide reliable export logistics solutions."


Read how Qube has continued to make inroads on grain logistics, here


According to Qube, the attraction is NAT’s world class, premium grain handling export infrastructure [that] delivers highly efficient and cost effective grain loading and rail discharge capabilities".

NAT services the large northern NSW ‘draw zone’, which has produced an average of some 4.8 million tonnes of grain a year over the last seven years.

 "The acquisition of NAT will further strengthen Qube Agri export bulk service offering to growers and traders the ability to now ship from Newcastle," Qube MD Paul Digney said.

The NAT facility has about 60,000 tonnes of silo storage, modern rail receival infrastructure, road discharge facilities and the ability to load out up to 2,000 tonnes per hour.

"The addition of this quality asset to the Qube Agri capability will ensure customers in the Northern draw zone can benefit from an efficient export terminal," Digney said.

There are no immediate changes forecast for the business, Qube added, and the initial focus of the combined business "will be to work with the management team to ensure the same high level of service continues for NAT’s valued customers and the new opportunities identified are delivered upon".

 

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