India’s Largest Port Operator Acquires 50 MTP NQXT Terminal In Australia

India’s largest integrated transport utility, Adani Ports and Special Economic Zone Ltd (APSEZ), has acquired the North Queensland Export Terminal (NQXT) in Australia. The acquisition was approved by the company’s Board of Directors.

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. 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’s east coast.

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. This exchange is based on an enterprise value of A$ 3,975 million for NQXT.

As part of the deal, APSEZ will also take over certain non-core assets and liabilities listed on APPH’s balance sheet, which the company plans to liquidate within a few months.

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’s resource export sector. 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.

It currently supports eight major customers through long-term “take or pay” contracts. 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.

The terminal exports to 15 countries, with 88% of shipments going to Asia and about 10% to Europe. In the same fiscal year, the terminal posted estimated revenue of A$ 349 million and an EBITDA of A$ 228 million.

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. Ashwani Gupta, Whole-time Director and CEO of APSEZ, discussed the importance of the acquisition in achieving the company’s international ambitions.

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. 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. 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:

• NQXT is a fully operational terminal with over 40 years of experience.
• Its customers are reliable and mainly come from the Bowen and Galilee regions, known for producing high-quality metallurgical and energy coal.
• The terminal offers strategic global access to resource-rich regions and complements APSEZ’s logistics and transport network.
• The potential to facilitate green hydrogen exports from Abbot Point fits with both APSEZ’s and the Queensland Government’s future vision for sustainable energy.

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. NQXT has also contributed significantly to community development. Around 50% of its operational expenditure in FY25 was directed to local and regional suppliers.

Since 2017, over A$ 2.4 million has been invested in community initiatives in Bowen and Collinsville. Additionally, more than 5% of the terminal’s workforce identify as Aboriginal and Torres Strait Islander, which is higher than their representation in the Australian population.

The terminal’s operations have had a significant economic impact, contributing A$ 10 billion to Queensland’s Gross State Product and supporting about 8,000 jobs across the mining and allied sectors.

Reference: adaniports