The acquisition entails 100% ownership of APPH, which runs the North Queensland Export Terminal (NQXT).
India’s Adani Ports and Special Economic Zone (APSEZ) has announced the acquisition of 100% interest in Abbot Point Port Holdings (APPH) from Carmichael Rail and Port Singapore Holdings (CRPSHPL) for an enterprise value of A$3.97bn ($2.54bn).
APPH operates the North Queensland Export Terminal (NQXT), a multi-user export terminal located at the Port of Abbot Point in North Queensland, Australia, with a current capacity of 50 million tonnes per annum.
The acquisition will be executed on a non-cash basis, with APSEZ issuing “14.38 crore equity shares” to CRPSHPL.
APSEZ will also take on certain non-core assets and liabilities associated with APPH, which are expected to have no net impact on the transaction’s valuation.
The transaction is aimed at enhancing APSEZ’s capacity towards its goal of reaching one billion tonnes per annum by 2030.
The acquisition is aligned with APSEZ’s global expansion strategy and aims to leverage future opportunities in green hydrogen exports from the Port of Abbot Point.
APSEZ whole-time director and CEO Ashwani Gupta said: “NQXT’s acquisition is a pivotal step in our international strategy, opening new export markets and securing long-term contracts with valued users.
“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.”
NQXT has been designated as a “Strategic Port and a Priority Port Development Area” by the Queensland Government.
The terminal supports Australia’s resource industry and has long-term contracts with eight major customers. It is under a long-term lease from the Queensland Government, with the lease having a remaining life of 85 years until 2110.
In FY25, NQXT achieved a contract capacity of 40 million metric tonnes (mt) and recorded a cargo volume of 35mt.
The terminal’s operations contributed A$10bn ($6.39bn) to Queensland’s Gross State Product and supported approximately 8,000 jobs.
In FY25, NQXT generated A$349m ($223.3m) in revenue and an EBITDA of A$228m ($145.8m), reflecting a high incremental EBITDA margin for APSEZ.
In November 2024, the Kerala government and Adani Vizhinjam Port signed a supplementary concession agreement to expand Vizhinjam International Seaport, involving an additional investment of around Rs100bn ($1.3bn) to increase its capacity to three million twenty-foot equivalent units (TEUs).
