Ahmedabad: Adani Ports and Special Economic ZoneAdani Ports Acquires Australia’s NQXT in Strategic Global Expansion Deal Ltd (APSEZ), India’s largest integrated transport utility, has announced the acquisition of Abbot Point Port Holdings Pte Ltd (APPH), which owns the North Queensland Export Terminal (NQXT) in Australia. The acquisition was approved by APSEZ’s board and will be executed through a non-cash share swap deal with Carmichael Rail and Port Singapore Holdings Pte Ltd (CRPSHPL), a related party.

Under the agreement, APSEZ will issue 14.38 crore equity shares to CRPSHPL, valuing NQXT at A$3.975 billion. Alongside acquiring 100% interest in APPH, APSEZ will assume certain non-core assets and liabilities with no net impact on the valuation. The transaction is subject to approvals from the Reserve Bank of India, shareholders, and Australia’s Foreign Investment Review Board, and is expected to close within two quarters.

Located at Abbot Point in North Queensland, NQXT is a deep-water, multi-user export terminal with a 50 MTPA capacity. Strategically significant, the port supports Australia’s mining sector and is under a long-term lease from the Queensland Government. NQXT serves eight major customers under “take or pay” contracts, exporting coal to 15 countries, with 88% destined for Asia.

For FY25, NQXT handled a record 35 MMT in cargo, generated A$349 million in revenue, and posted EBITDA of A$228 million. APSEZ aims to boost EBITDA to A$400 million within four years, leveraging growing capacity, contract renewals, and potential green hydrogen exports.

APSEZ CEO Ashwani Gupta called the acquisition “pivotal” to the company's international strategy. “NQXT is poised for robust growth and aligns with our ‘Growth with Goodness’ philosophy,” he said, emphasizing the asset's strategic location and ESG standards.

NQXT has operated since 1984 with a strong safety and sustainability track record, including zero reportable environmental incidents in FY25. It has invested A$2.4 million in community initiatives since 2017, with a significant share of its workforce identifying as Aboriginal or Torres Strait Islander.

Legal and valuation advisors for the deal include Cyril Amarchand Mangaldas, Ashurst, GT Valuation Advisors, Grant Thornton Bharat, and SBI Capital Markets.

APSEZ continues to expand its global footprint, operating ports across India, Israel, Sri Lanka, and Tanzania, with a vision to become the world’s largest ports and logistics platform within the next decade.