Adani Ports strikes $2.5bn deal for Australian coal terminal

India’s largest private ports and logistics company, Adani Ports and Special Economic Zone (APSEZ), has acquired the North Queensland Export Terminal (NQXT) in Australia in a non-cash deal worth about $2.54bn.

The transaction involves the purchase of Abbot Point Port Holdings (APPH), a Singapore-based entity currently owned by Carmichael Rail and Port Singapore holdings, which is a related party and owns and operates the NQXT deepwater coal export facility.

The terminal, with a nameplate capacity of 50 mtpa, is located at the Port of Abbot Point, some 25 km north of Bowen, in North Queensland on Australia’s east coast.

It is under a long-term lease from the Queensland Government and currently supports eight major customers through long-term “take or pay” contracts and exports to 15 countries, with 88% of shipments going to Asia.

Ashwani Gupta, CEO of APSEZ, said the acquisition is a “pivotal step” in the group’s international strategy, opening new export markets and securing long-term contracts, adding that the terminal is well-positioned for strong growth, backed by increased capacity, upcoming contract renewals, and future opportunities in green hydrogen exports.

As part of the deal, Adani Ports will also assume other non-core assets and liabilities on Abbot Point Port’s balance sheet, which the company will realise within a few months of the deal and aims to take the port’s EBITDA growth to A$400m within four years.