Ahmedabad: The Board of Directors of Adani Ports and Special Economic Zone Ltd. (APSEZ), India’s largest integrated Transport Utility company has approved the acquisition of Abbot Point Port Holdings Pte Ltd (APPH), Singapore from Carmichael Rail and Port Singapore Holdings Pte Ltd, Singapore (CRPSHPL).
APPH owns and operates the North Queensland Export Terminal, a major coal export facility located at the Port of Abbot Point, about 25 km north of Bowen on Australia’s east coast. With a current capacity of 50 million tonnes per annum (MTPA), the terminal plays a key role in supporting Australia’s coal exports from North Queensland.
Adani Ports and Special Economic Zone (APSEZ) will acquire 100% ownership of APPH, the operator of the North Queensland Export Terminal, through a non-cash deal. As part of the transaction, APSEZ will issue 14.38 crore equity shares to CRPSHPL, valuing the enterprise at A$3,975 million. In addition, APSEZ will take over certain non-core assets and liabilities on APPH’s balance sheet, which are expected to be realized within months, having no net impact on the deal’s valuation. The company confirmed that its leverage levels will remain largely unchanged following the acquisition.
Commenting on the acquisition, Ashwani Gupta, Whole-time Director & CEO of APSEZ, called the deal a key milestone in the company’s international growth strategy. “The acquisition of NQXT marks a pivotal step in opening new export markets and securing long-term contracts with valued users,” he said. Positioned along the crucial East-West trade corridor, NQXT is expected to see strong growth, driven by capacity expansion, upcoming contract renewals, and future potential in green hydrogen exports. Gupta added that APSEZ aims to scale NQXT’s EBITDA to A$400 million within four years. He also highlighted the terminal’s alignment with APSEZ’s ‘Growth with Goodness’ philosophy, emphasizing its strong commitment to environmental, social, and governance (ESG) standards.
BI Bureau
