Adani Ports acquires 50 MTPA capacity Australian terminal in non-cash deal

Adani Ports and SEZ (APSEZ), India's biggest private port operator, on Thursday said it has got its board approval to acquire a coal export terminal in Australia in a $2.4 billion non-cash deal. The acquisition is expected to strengthen billionaire Gautam Adani-led firm’s presence in the Asia-Pacific region and further enhance its global transport and logistics footprint. It will also fast track its journey to handle 1 billion tonnes per annum by 2030, APSEZ said in a release.

“The board of directors of Adani Ports and Special Economic Zone Ltd. (APSEZ), India’s largest integrated Transport Utility company has approved the acquisition of Abbot Point Port Holdings Pte Ltd (APPH), Singapore from Carmichael Rail and Port Singapore Holdings Pte Ltd, Singapore (CRPSHPL).CRPSHPL is a related party,” it said in an exchange filing this evening.

APPH owns the entities which own and operate the North Queensland Export Terminal (NQXT), 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.

“NQXT’s acquisition is a pivotal step in our international strategy, opening new export markets and securing long-term contracts with valued users. Strategically located on the East-West trade corridor, NQXT is poised for robust growth as a high-performing asset, driven by increased capacity, upcoming contract renewals in the medium term, and the potential for green hydrogen exports in the long term,” said Ashwani Gupta, Whole-time Director & CEO, APSEZ.

“We are targeting EBITDA growing to A$400 million within 4 years. I am proud to welcome NQXT to our 'Growth with Goodness' initiative, as it exemplifies our commitment to high standards in environmental, social, and governance practices,” he added.

The release noted that NQXT has an identified pathway and capability to grow throughput up to 120 MTPA to meet the global demand for Queensland’s high quality resources including for potential green hydrogen exports. The terminal handled its all-time high cargo at 35MMT in FY25.

As per the company, the transaction will be completed on a non-cash basis. As part of a non-cash transaction, APSEZ will issue 14.38 crore equity shares to CRPSHPL, in exchange for acquisition of 100% interest in APPH, which will result in a net increase of 2.13% in promoter group holding.

The release further said that APSEZ will also assume other non-core assets and liabilities on APPH’s balance sheet, which will be realised 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.

Over the years, Adani Ports has completed 11 acquisitions with an average acquisition amount of $314 million, as per Tracxn report. One of its most active year was 2024, with 3 acquisitions - Astro Offshore, Gopalpur Port, and Tanzania International Container Terminal Services.