Adani Ports and Special Economic Zone (APSEZ) has acquired a 100% stake in Abbot Point Port Holdings (APPH) from Carmichael Rail and Port Singapore Holdings (CRPSHPL) for an enterprise value of A$3.97 billion ($2.54 billion). The transaction marks a pivotal step in Adani’s strategy to reach one billion tonnes per annum of cargo handling capacity by 2030.
APPH operates the North Queensland Export Terminal (NQXT), a high-capacity, multi-user facility at the Port of Abbot Point in North Queensland, Australia. With a current throughput capacity of 50 million tonnes per annum, NQXT is one of Australia’s key export terminals, supporting the country’s robust resources sector.
The acquisition will be conducted on a non-cash basis, with APSEZ issuing 14.38 crore equity shares to CRPSHPL. The Indian port operator will also assume certain non-core assets and liabilities linked to APPH, though these are not expected to materially affect the transaction’s valuation.
“This acquisition is a pivotal step in our international strategy, opening new export markets and securing long-term contracts with valued users,” said Ashwani Gupta, Whole-Time Director and CEO of APSEZ. “Strategically located on the East-West trade corridor, NQXT is poised for robust growth, driven by increased capacity, upcoming contract renewals, and the future potential for green hydrogen exports.”
Designated by the Queensland Government as a “Strategic Port and Priority Port Development Area,” NQXT operates under a long-term lease valid until 2110. It currently serves eight major customers under long-term contracts and achieved a contract capacity of 40 million metric tonnes in FY25, with 35 million tonnes of cargo volume handled.
NQXT’s economic contribution is substantial, adding A$10 billion ($6.39 billion) to Queensland’s Gross State Product and supporting around 8,000 jobs. The terminal generated A$349 million ($223.3 million) in revenue and A$228 million ($145.8 million) in EBITDA during FY25, reinforcing its status as a high-performing infrastructure asset.
The acquisition also aligns with APSEZ’s long-term ambitions to participate in Australia’s emerging green hydrogen export market. With its strategic location and established infrastructure, NQXT is well-positioned to capitalize on future sustainable energy trends.
This deal follows a string of expansionary efforts by APSEZ, including a supplementary concession agreement signed in November 2024 with the Kerala government to expand the Vizhinjam International Seaport. That project involves an additional Rs100 billion ($1.3 billion) investment to raise the port’s container handling capacity to three million TEUs.
