M&A

M&A

Adani Ports completes acquisition of Brisbane-based NQXT Australia

BSE Announcement   Business Standard  

Publicly listed, Ahmedabad-based Adani Ports and Special Economic Zone (APSEZ) has completed the acquisition of a 100% stake in Brisbane, Australia-based North Queensland Export Terminal (NQXT) Australia. The acquisition was structured as a non-cash transaction, with APSEZ allotting 14.38 crore equity shares, each with a face value of INR 2, to the seller, Carmichael Rail and Port Singapore Holdings, on a preferential basis.NQXT is a natural deep-water, multi-user export terminal located in the Port of Abbot Point in North Queensland. The terminal operates under a long-term lease from the Queensland government, with a remaining lease term of 85 years, and has a nameplate capacity of 50 million tonnes per annum. NQXT serves mining customers operating in the Bowen and Galilee basins, facilitating exports to markets in North and Southeast Asia.For FY25, NQXT had a contracted capacity of 40 million tonnes and delivered AUD 228 million EBITDA (on a pro forma basis, NQXT represents 6% and 7% of APSEZ’s FY25 revenue and EBITDA respectively).