The Board of Adani Ports and Special Economic Zone Ltd (APSEZ), India’s leading integrated transport logistics firm, has approved the acquisition of Abbot Point Port Holdings Pte Ltd (APPH), a Singapore-based company, from Carmichael Rail and Port Singapore Holdings Pte Ltd (CRPSHPL), a related entity.
APPH controls the companies that own and operate the North Queensland Export Terminal (NQXT), a deep-water, multi-user export facility with a nameplate capacity of 50 million tonnes per year. Located at the Port of Abbot Point, about 25 km north of Bowen in North Queensland, the terminal is a key piece of Australia’s export infrastructure.
The deal will be executed on a non-cash basis, with APSEZ issuing 14.38 crore equity shares to CRPSHPL in exchange for full ownership of APPH. The enterprise value of the terminal is estimated at A$3.975 billion. APSEZ will also take on certain non-core assets and liabilities from APPH’s balance sheet, which are expected to be monetized within months, keeping the transaction valuation unchanged. The company’s debt levels are expected to remain stable post-acquisition.
Commenting on the development, Ashwani Gupta, Whole-time Director & CEO of APSEZ, said, “This acquisition is a significant milestone in our global expansion plans. NQXT strengthens our position in the East-West trade network and enables access to long-term contracts with key export clients. With expansion potential and future green hydrogen opportunities, we see NQXT as a high-value asset with substantial growth ahead. We aim to grow its EBITDA to A$400 million within four years. NQXT aligns with our commitment to responsible and sustainable business practices.”
NQXT is a deep-water terminal leased long-term from the Queensland Government and serves as a key export gateway for Australia’s resource sector. The facility operates under “take or pay” contracts with eight major customers and has been designated both a Strategic Port and a Priority Port Development Area.
In FY25, the terminal had a contracted capacity of 40 million tonnes and handled a record 35 million tonnes of cargo. The weighted average mine life of its current user base is estimated at around 60 years. Shipments from NQXT reached 15 countries, with 88% going to Asia and 10% to Europe. For FY25, the terminal recorded A$349 million in revenue and A$228 million in EBITDA. The acquisition is expected to contribute significant margin growth for APSEZ, excluding operational pass-through costs.
NQXT is a deep-water, multi-user export terminal with a designed capacity of 50 million tonnes per year. Situated within the Port of Abbot Point, about 25 km north of Bowen in North Queensland, it plays a vital role in Australia’s resource export infrastructure. Recognized by the Queensland Government as both a Strategic Port and a Priority Port Development Area, NQXT operates under a long-term lease and is essential to supporting the country’s mining and export industries. It serves eight major customers through long-term “take or pay” agreements, providing stable, long-term access to global markets. Its operations have had a significant economic impact, contributing A$10 billion to Queensland’s Gross State Product and supporting around 8,000 jobs across various sectors.
In FY25, NQXT had a contract capacity of 40 million tonnes and achieved record cargo volumes of 35 million tonnes. The average mine life of its current users is approximately 60 years, underlining the terminal’s long-term relevance. Cargo from NQXT was shipped to 15 countries, with the majority—88%—headed to Asia and 10% to Europe. For the year, NQXT reported revenue of A$349 million and EBITDA of A$228 million, with an incremental EBITDA margin exceeding 90% for APSEZ (excluding pass-through operations and maintenance costs).
