APSEZ completes acquisition of NQXT Australia
Ahmedabad: Adani Ports and Special Economic Zone Limited (APSEZ), India’s largest Integrated Transport Utility, has successfully completed the acquisition of 100% interest in 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 ₹2 each to the seller, Carmichael Rail and Port Singapore Holdings Pte Ltd on a preferential basis.
“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).
About NQXT
NQXT is a natural deep-water, multi-user export terminal with a name plate capacity of 50 million tonnes per annum. NQXT 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 (during FY25, c.88% of cargo was shipped to Asian countries). NQXT has a long remaining lease file of 85 years, with its lease set to expire in year 2110.
Port of Abbot Point has been declared as a Strategic Port and Priority Port Development Area by the Queensland Government. NQXT has an identified pathway and capability to expand throughput to meet the global demand for Queensland’s high-quality resources including potential for green hydrogen exports. NQXT’s operations have contributed over A$ 10 billion to Queensland’s Gross State Product and facilitated 8,000+ jobs across mining and other industries.
NQXT boasts of impeccable sustainability credentials with an excellent safety record (zero FY25 reportable environmental incidents and zero fatalities), diverse workforce (21% female workforce participation, 5% of the workforce identify as Aboriginal and Torres Strait Islander) and deep community involvement (50% of FY25 goods and services procurement with local and regional suppliers and over A$ 2.5mn spent since 2017 on community initiatives in Bowen and Collinsville).