Adani Ports: India’s largest port operator bags fourth international asset

By Admin

19 Apr, 2025

India’s leading port operator, Adani Ports and Special Economic Zone Ltd (APSEZ), has further cemented its position on the global stage by acquiring the North Queensland Export Terminal (NQXT) in Australia. This strategic move marks APSEZ’s fourth international acquisition, signaling the company’s continued ambition to build a robust international presence and strengthen its position as a global logistics powerhouse.

$2.5 Billion Deal to Expand Global Footprint

Owned by Indian billionaire Gautam Adani (net worth $63 billion, according to Forbes), APSEZ has acquired NQXT from Singapore-based Abbot Point Port Holdings at a valuation of approximately $2.5 billion. The transaction is set to be executed through a share swap agreement with Carmichael Rail and Port Singapore Holdings Pte Ltd (CRPSHPL), a related party. The deal has already received approval from APSEZ’s Board of Directors.

As part of the agreement, 14.38 crore new equity shares will be issued to CRPSHPL via preferential allotment, resulting in a 2.13% increase in promoter group holding. This move not only boosts APSEZ's cargo handling capacity but also aligns with its ambitious target of managing 1 billion metric tonnes (BMT) of cargo annually by 2030—15% of which is expected to come from international operations.

Strategic Importance of the North Queensland Export Terminal

Located within the Port of Abbot Point, about 25 kilometers north of Bowen on Queensland’s east coast, NQXT is a deep-water terminal with a nameplate capacity of 50 million tonnes per year. It exports over 30 million tonnes of thermal and metallurgical coal annually and is operated under a 99-year leasehold, expiring in 2110. The terminal, part of the Adani Group’s Bravus operations in Australia, is owned by the Queensland Government and leased by North Queensland Export Terminal Pty Ltd.

In FY25, NQXT handled 35 million tonnes of cargo, generating a total income of A$349 million ($222 million) and an EBITDA of A$228 million ($145 million). According to Ashwani Gupta, CEO of APSEZ, the acquisition is expected to yield an annual operating profit of $255 million over the next four years.

Valuations, Financials & Approvals

Independent valuations have been conducted, and the APSEZ Board approved a share swap ratio of 153 APSEZ shares for every 1,000 ordinary APPH shares. Additionally, APSEZ will take on non-core assets and liabilities worth approximately $2.2 billion from APPH’s balance sheet, which it plans to monetize within a few months post-acquisition.

This high-profile international acquisition is still subject to customary approvals, including those from minority shareholders, the Reserve Bank of India (RBI), and Australia’s Foreign Investment Review Board.

Paving the Way for a Global Maritime Legacy

With this acquisition, Adani Ports is not only enhancing its operational capacity but also solidifying its long-term strategy to become a dominant force in global maritime trade. As APSEZ continues to expand its footprint worldwide, this move reinforces the group’s vision of building a globally integrated logistics network, further establishing India as a major player in international shipping and trade.