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India\u2019s largest integrated transport utility, Adani Ports and Special Economic Zone Ltd (APSEZ), has acquired the North Queensland Export Terminal (NQXT) in Australia.<\/p>\n
The acquisition was approved by the company\u2019s Board of Directors.<\/p>\n
It involves the purchase of Abbot Point Port Holdings Pte Ltd (APPH), a Singapore-based entity currently owned by Carmichael Rail and Port Singapore holdings Pte Ltd (CRPSHPL), which is a related party.<\/p>\n
APPH owns and operates NQXT, a major export terminal located at the Port of Abbot Point, roughly 25 kilometers north of Bowen in North Queensland, on Australia\u2019s east coast.<\/p>\n
The transaction is structured as a non-cash deal. APSEZ will issue 14.38 crore equity shares to CRPSHPL in exchange for 100% ownership of APPH.<\/p>\n
This exchange is based on an enterprise value of A$ 3,975 million for NQXT.<\/p>\n
As part of the deal, APSEZ will also take over certain non-core assets and liabilities listed on APPH\u2019s balance sheet, which the company plans to liquidate within a few months.<\/p>\n
NQXT is a well-established, natural deep-water terminal with a nameplate capacity of 50 million tonnes per annum (MTPA). It operates as a multi-user facility and plays an important role in Australia\u2019s resource export sector.<\/p>\n
The terminal is under a long-term lease from the Queensland Government and has been designated both a Strategic Port and a Priority Port Development Area.<\/p>\n
It currently supports eight major customers through long-term \u201ctake or pay\u201d contracts.<\/p>\n
In FY25, NQXT handled a record 35 million tonnes of cargo, with a contract capacity of 40 MTPA. The average mine life of its customer base stands at around 60 years, ensuring long-term cargo flow.<\/p>\n
The terminal exports to 15 countries, with 88% of shipments going to Asia and about 10% to Europe.<\/p>\n
In the same fiscal year, the terminal posted estimated revenue of A$ 349 million and an EBITDA of A$ 228 million.<\/p>\n
For APSEZ, this acquisition is expected to generate an additional EBITDA margin of over 90% excluding the pass-through operational and maintenance costs included in the revenue.<\/p>\n
Ashwani Gupta, Whole-time Director and CEO of APSEZ, discussed the importance of the acquisition in achieving the company\u2019s international ambitions.<\/p>\n
He said that acquiring NQXT was an important move in their global plans, helping them enter new export markets and sign long-term deals with key customers.<\/p>\n
Ashwani also mentioned that NQXT, located on the East-West trade route, is expected to grow well due to higher capacity, upcoming contract renewals, and future green hydrogen exports.<\/p>\n
The company aims to grow its earnings to A$400 million in the next four years. There are several reasons why this acquisition stands out:<\/p>\n
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- NQXT is a fully operational terminal with over 40 years of experience.<\/li>\n
- Its customers are reliable and mainly come from the Bowen and Galilee regions, known for producing high-quality metallurgical and energy coal.<\/li>\n
- The terminal offers strategic global access to resource-rich regions and complements APSEZ\u2019s logistics and transport network.<\/li>\n
- The potential to facilitate green hydrogen exports from Abbot Point fits with both APSEZ\u2019s and the Queensland Government\u2019s future vision for sustainable energy.<\/li>\n<\/ul>\n
Since beginning operations in 1984, NQXT has maintained high standards in environmental and safety practices. In FY25, the terminal reported zero environmental incidents and zero fatalities, with a lost time injury frequency rate of 1.7.<\/p>\n
NQXT has also contributed significantly to community development. Around 50% of its operational expenditure in FY25 was directed to local and regional suppliers.<\/p>\n
Since 2017, over A$ 2.4 million has been invested in community initiatives in Bowen and Collinsville.<\/p>\n
Additionally, more than 5% of the terminal\u2019s workforce identify as Aboriginal and Torres Strait Islander, which is higher than their representation in the Australian population.<\/p>\n
The terminal\u2019s operations have had a significant economic impact, contributing A$ 10 billion to Queensland\u2019s Gross State Product and supporting about 8,000 jobs across the mining and allied sectors.<\/p>\n