Adani Ports and SEZ officially announced that it has acquired a coal export terminal in Australia in a $2.4-billion non-cash deal.
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Adani Ports and SEZ officially announced that it has acquired a coal export terminal in Australia in a $2.4-billion non-cash deal.
The company has purchased Abbot Point Port Holdings (APPH), Singapore, from Carmichael Rail and Port Singapore Holdings Singapore (CRPSHPL).
APPH holds the entities which own and operate the North Queensland Export Terminal, a dedicated export terminal with a current nameplate capacity of 50 million tonnes per annum (MTPA).
The terminal is located at the Port of Abbot Point, approximately 25 km north of Bowen, in North Queensland on Australia’s east coast.
The transaction will be completed on a non-cash basis.
APSEZ will issue 14.38 crore equity shares to CRPSHPL, in exchange for acquisition of 100% interest in APPH.
This is based on enterprise value of NQXT of A$ 3,975 million.
As part of the transaction, APSEZ will also assume other non-core assets and liabilities on APPH’s balance sheet, which APSEZ will realize within a few months of the acquisition (zero net impact on the transaction valuation).
APSEZ’s leverage will remain at similar levels post the transaction.
NQXT, is a natural deep-water, multi-user export terminal with a nameplate capacity of 50 million tonnes per annum.
NQXT is located in the Port of Abbot Point, approximately 25 km north of Bowen, in North Queensland on Australia’s east coast.
The Port of Abbot Point (within which NQXT is located) has been declared as a Strategic Port and a Priority Port Development Area by the Queensland Government.
NQXT is under a long-term lease from the Queensland Government and is a critical infrastructure asset supporting Australia’s significant resource industry.
NQXT provides strategic access to currently eight major customers under long term “take or pay” contracts.
NQXT’s operations contributed A$ 10 billion to Queensland’s Gross State Product and facilitated 8,000 jobs across mining and other industries.
During FY25, NQXT had a contract capacity of 40MMT and handled all-time high cargo volume of 35MMT.
The weighted average mine life the NQXT’s current users is c. 60 years.
Cargo from NQXT was exported to 15 countries including 88% to Asia and 10% Europe. ■