Adani Ports and Special Economic Zone Ltd (APSEZ) has now acquired Abbot Point Port Holdings Pte Ltd (APPH), the owner of the North Queensland Export Terminal.
Located at the Port of Abbot Point, approximately 25 km north of Bowen, in North Queensland on Australia’s east coast, it is a dedicated export terminal with a capacity of 50 million tonnes per annum. It has also been declared as a Strategic Port and a Priority Port Development Area by the Queensland government.
The transaction will be completed on a non-cash basis. APSEZ will issue 14.38 crore equity shares to Carmichael Rail and Port Singapore Holdings Pte Ltd, Singapore, in exchange for acquisition of 100 per cent interest in APPH. As part of the transaction, APSEZ will also assume other non-core assets and liabilities on APPH’s balance sheet, which APSEZ will realize within a few months of the acquisition.
“NQXT’s acquisition is a pivotal step in our international strategy, opening new export markets and securing long-term contracts with valued users,” says APSEZ director and CEO Ashwani Gupta.
“Strategically located on the East-West trade corridor, NQXT is poised for robust growth as a high-performing asset, driven by increased capacity, upcoming contract renewals in the medium term, and the potential for green hydrogen exports in the long term.
“We are targeting EBITDA growing to A$ 400 million within four years. I am proud to welcome NQXT to our ‘Growth with Goodness’ initiative, as it exemplifies our commitment to high standards in environmental, social, and governance practices.”
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