APSEZ completes acquisition of NQXT Australia

Adani Ports and Special Economic Zone Limited (APSEZ), India’s largest integrated transport utility, has successfully completed the acquisition of 100% interest in North Queensland Export Terminal (NQXT) Australia pursuant to completion of all condition precedents, including approvals from ‘majority of minority’ shareholders, Reserve Bank of India, Foreign Investment Review Board of Australia, amongst others. 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.

NQXT is a natural deep-water, multi-user export terminal with a name plate capacity of 50 million tonnes per annum. It is under a long-term lease from the Queensland government and is a critical infrastructure asset supporting Australia’s significant resource industry. Located in the Port of Abbot Point in North Queensland, NQXT primarily serves mining customers who are operating in the resource-rich Bowen and Galilee basins and exports largely to fast-growing markets in North and South-East Asia. NQXT has a long remaining lease file of 85 years, with its lease set to expire in 2110. 

 “Closure of NQXT’s acquisition is a significant milestone in APSEZ’s growth trajectory towards 1 billion metric tonne cargo by 2030,” said Mr 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 high-growth, cash generating asset, driven primarily by take-or-pay contracts with customers. During FY25, NQXT had a contracted capacity of 40 million tonnes and delivered A$ 228mn EBITDA (on proforma basis, NQXT represents 6% and 7% of APSEZ’s FY25 revenue and EBITDA respectively), as per a release.

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