Adani Ports and Special Economic Zone Ltd (APSEZ), India’s largest Integrated Transport Utility, has successfully completed the acquisition of 100 per cent interest in North Queensland Export Terminal (NQXT), Australia, marking a significant step in its global expansion strategy and its journey towards achieving 1 billion metric ton of cargo volume by 2030.
The acquisition follows the fulfilment of all condition precedents, including approvals from the ‘majority of minority’ shareholders, the Reserve Bank of India, and the Foreign Investment Review Board of Australia, among others. As part of the transaction, APSEZ has allotted 14,38,20,153 equity shares of face value Rs 2 each to the seller, Carmichael Rail and Port Singapore Holdings Pte Ltd, on a preferential basis.
“Closure of NQXT’s acquisition is a significant milestone in APSEZ’s growth trajectory towards 1 billion metric ton cargo by 2030”, said Ashwani Gupta, Whole-time Director & CEO, APSEZ. “NQXT is an excellent asset with distinct geographical advantages, strong growth prospects, and an enviable sustainability track record. NQXT will enhance our presence along the East-West trade corridor along with our other international ports in Israel, Colombo and Tanzania. I am delighted to welcome NQXT to the APSEZ family and look forward to strengthening our impact on the global trade landscape”.
NQXT is a critical export gateway for producers in resource-rich Queensland, with a current capacity of 50 million ton per annum (MTPA). The terminal primarily handles bulk exports and plays a vital role in supporting Australia’s resource supply chains.
The acquisition adds a high-growth, cash-generating asset to APSEZ’s international portfolio, particularly along the strategic East-West trade corridor. NQXT’s revenue visibility is underpinned by long-term take-or-pay contracts with customers. During FY25, the terminal had a contracted capacity of 40 million tonnes and delivered an EBITDA of A$ 228 million on a proforma basis. NQXT is estimated to contribute approximately 6 per cent to APSEZ’s FY25 revenue and about 7 per cent to its EBITDA.
With this acquisition, APSEZ further strengthens its global footprint, complementing its existing international port assets in Israel, Sri Lanka (Colombo), and Tanzania, while reinforcing its position as a leading global port and logistics player.