Adani Ports Purchases NQXT Australia with 50 MTPA Capacity
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Synopsis
Adani Ports has approved the acquisition of Abbot Point Port Holdings, enhancing its global logistics capacity. The North Queensland Export Terminal, with a capacity of 50 MTPA, is a strategic asset that will contribute to achieving a target of 1 billion tonnes annually by 2030.
Key Takeaways
- APSEZ acquires APPH to enhance logistics capacity.
- NQXT has a capacity of 50 MTPA for exports.
- Transaction valued at 3,975 million AUD.
- Targeting EBITDA of A$400 million in four years.
- Strong ESG practices and minimal environmental footprint.
Ahmedabad, April 17 (NationPress) The Board of Directors of Adani Ports and Special Economic Zone Ltd (APSEZ) announced on Thursday the endorsement of the acquisition of Abbot Point Port Holdings Pte Ltd (APPH), based in Singapore, from Carmichael Rail and Port Singapore Holdings Pte Ltd (CRPSHPL), also based in Singapore, which is a related party.
APPH manages the entities that own and operate the North Queensland Export Terminal (NQXT) — a specialized export terminal boasting a current nameplate capacity of 50 million tonnes per annum (MTPA).
This acquisition will significantly bolster APSEZ’s global transport and logistics presence and expedite its goal to manage 1 billion tonnes per annum by 2030.
The terminal is situated at the Port of Abbot Point, roughly 25 km north of Bowen, located in North Queensland on Australia’s eastern coast.
According to Adani Ports, the acquisition will be executed on a non-cash basis. APSEZ will issue 14.38 crore equity shares to CRPSHPL in return for the complete ownership of APPH.
The enterprise value for NQXT is pegged at 3,975 million Australian dollars.
In conjunction with the acquisition, APSEZ will also take on various non-core assets and liabilities on APPH’s balance sheet, which APSEZ anticipates realizing within a few months post-acquisition (resulting in zero net impact on the transaction valuation). According to Adani Ports, APSEZ's leverage levels will remain consistent following the transaction.
“The acquisition of NQXT is a crucial milestone in our international strategy, enabling access to new export markets and securing long-term contracts with esteemed clients. Strategically located on the East-West trade corridor, NQXT is set for substantial growth as a high-performing asset, fueled by enhanced capacity, upcoming contract renewals, and the potential for green hydrogen exports in the future,” stated Ashwani Gupta, Whole-time Director and CEO of APSEZ.
“We aim for EBITDA to reach A$400 million within four years. I am honored to include NQXT in our 'Growth with Goodness' initiative, representing our dedication to superior standards in environmental, social, and governance practices,” Gupta remarked.
NQXT achieved its record cargo handling of 35 MMT in FY25, and APSEZ is positioned to gain from an incremental EBITDA margin exceeding 90 percent. NQXT's EBITDA is projected to increase to A$400 million within four years.
Additionally, NQXT boasts an exemplary ESG record with a minimal environmental impact, a diverse workforce, high safety standards, and 50 percent operational spending with local and regional suppliers.
