The transaction will be completed on a non-cash basis
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ANI
Adani Ports and Special Economic Zone (APSEZ) on Thursday announced a non-cash acquisition of an Australian port terminal from a group company.
The Board of Directors of APSEZ “approved the acquisition of Abbot Point Port Holdings Pte Ltd (APPH), Singapore from Carmichael Rail and Port Singapore Holdings Pte Ltd, Singapore (CRPSHPL)“, an official release said here. APPH holds the entities which own and operate the North Queensland Export Terminal (NQXT), a dedicated export terminal with a capacity of 50 million tonnes per annum (mpta). The terminal is located at the Port of Abbot Point, approximately 25 km north of Bowen, in North Queensland on Australia’s east coast.
The transaction will be completed on a non-cash basis. APSEZ will issue 14.38 crore equity shares to CRPSHPL, in exchange for acquisition of 100 per cent interest in APPH. This is based on the enterprise value of NQXT of A$3,975 million. As part of the transaction, APSEZ will also assume other non-core assets and liabilities on APPH’s balance sheet, which APSEZ will realise within a few months of the acquisition (zero net impact on the transaction valuation). APSEZ’s leverage will remain at similar levels post the transaction.
Ashwani Gupta, Whole-time Director & CEO, APSEZ, said in the release, “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. We are targeting EBITDA growing to A$400 million within 4 years. I am proud to welcome NQXT to our ‘Growth with Goodness’ initiative, as it exemplifies our commitment to high standards in environmental, social, and governance practices.”
NQXT is under a long-term lease from the Queensland Government and is a critical infrastructure asset supporting Australia’s significant resource industry. NQXT provides strategic access to currently eight major customers under long term “take or pay” contracts. NQXT’s operations contributed A$ 10 billion to Queensland’s Gross State Product and facilitated 8,000 jobs across mining and other industries.
Published on April 17, 2025
