Adani Ports and Special Economic Zone Ltd (APSEZ), India’s largest integrated transport utility, has completed the acquisition of 100 per cent interest in NQXT Australia after fulfilling all regulatory and shareholder approvals, including those from the Reserve Bank of India and Australia’s Foreign Investment Review Board.
As part of the transaction, APSEZ has allotted 14.38 crore equity shares of face value ₹2 each to the seller, Carmichael Rail and Port Singapore Holdings Pte Ltd, on a preferential basis.
Calling the acquisition a major milestone, APSEZ Whole-time Director and CEO Ashwani Gupta said the closure of NQXT’s acquisition significantly advances the company’s ambition of handling 1 billion metric tonnes of cargo by 2030. He added that NQXT’s strategic location, strong growth outlook and sustainability credentials would enhance APSEZ’s presence along the East–West trade corridor, complementing its international ports in Israel, Colombo and Tanzania.
NQXT is a high-growth, cash-generating asset backed largely by take-or-pay contracts. In FY25, it had a contracted capacity of 40 million tonnes and generated EBITDA of A$228 million on a pro forma basis, contributing around 6 per cent of APSEZ’s revenue and 7 per cent of its EBITDA.
Located at the Port of Abbot Point in North Queensland, NQXT is a natural deep-water, multi-user export terminal with a nameplate capacity of 50 million tonnes per annum. It operates under a long-term lease from the Queensland government, with 85 years remaining until expiry in 2110. The terminal primarily serves mining customers in the Bowen and Galilee basins, with nearly 88 per cent of FY25 cargo shipped to Asian markets.
Declared a Strategic Port and Priority Port Development Area by the Queensland government, the Port of Abbot Point offers significant expansion potential, including opportunities to support future green hydrogen exports. NQXT’s operations have contributed over A$10 billion to Queensland’s Gross State Product and supported more than 8,000 jobs across mining and allied industries.
