Adani Ports strikes $2.5bn deal for Australian coal terminal
Adani Ports Acquires Australian Terminal for $2.54 Billion
Adani Ports and Special Economic Zone (APSEZ), India’s largest private ports and logistics firm, has made a significant move by acquiring the North Queensland Export Terminal (NQXT) in Australia. This non-cash transaction is valued at approximately $2.54 billion and involves the purchase of Abbot Point Port Holdings (APPH), a Singapore-based entity. The acquisition is expected to enhance APSEZ’s international presence and expand its export capabilities.
Strategic Acquisition Enhances Global Reach
The acquisition of the NQXT, located at the Port of Abbot Point, approximately 25 kilometers north of Bowen in North Queensland, marks a pivotal step in Adani’s international strategy. The terminal boasts a nameplate capacity of 50 million tonnes per annum (mtpa) and operates under a long-term lease from the Queensland Government. Currently, it serves eight major customers through long-term “take or pay” contracts, exporting to 15 countries, with a significant 88% of shipments directed towards Asia.
Ashwani Gupta, CEO of APSEZ, emphasized that this acquisition opens new export markets and secures long-term contracts for the company. He noted that the terminal is strategically positioned for robust growth, supported by increased capacity and upcoming contract renewals. Furthermore, Gupta highlighted future opportunities in green hydrogen exports, indicating a forward-looking approach to sustainable energy solutions.
