India’s Adani Ports and Special Economic Zone (APSEZ) has completed the acquisition of a 100 per cent interest in NQXT (North Queensland Export Terminal) Australia.
In a statement on Dec. 23, APSEZ said that it 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 Ashwani Gupta, whole-time director and chief executive officer, 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.”
NQXT is a natural deep-water, multi-user export terminal with a name plate capacity of 50 million tonnes per annum.
According to Adani Ports and Special Economic Zone Limited, 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 Bowen and Galilee basins, and exports largely to fast-growing markets in North and South-East Asia.
NQXT has a long remaining lease file of 85 years, APSEZ said, with its lease set to expire in the year 2110.
