Adani Ports will acquire its former Australian terminal (50 MTPA capacity, valued at A$3.975B) from a promoter entity in a non-cash deal, issuing shares and boosting the promoter’s stake. The move aims to expand global presence and grow EBITDA.

In a significant strategic move, Adani Ports and Special Economic Zone (APSEZ) has announced its acquisition of a key port terminal in Queensland, Australia, from a promoter-owned entity, Carmichael Rail and Port Singapore Holdings (CRPSHPL). The deal, valued at an enterprise value of A$3,975 million (approximately ₹21,640 crore or $2.5 billion), will be executed through a non-cash transaction involving the issuance of 143.8 million equity shares of APSEZ to CRPSHPL.

This acquisition marks a notable return for APSEZ to the North Queensland Export Terminal (NQXT). The company had originally purchased the 50-million-tonnes-per-annum (MTPA) capacity asset in 2011 for around ₹9,000 crore, according to reports. However, in 2013, the terminal was divested to the Adani family to alleviate the listed company’s debt.

The current transaction will result in an increase in promoter shareholding in APSEZ by 2.13 percentage points, reaching 68.02%. APSEZ will also assume associated non-core assets and liabilities related to the terminal while maintaining its leverage at comparable levels post-acquisition.

Ashwani Gupta, Whole-time Director & CEO of APSEZ, emphasised the strategic importance of this acquisition, stating, “NQXT’s acquisition is a pivotal step in our international strategy, opening new export markets and securing long-term contracts with valued users.” He further highlighted the terminal’s strategic location on the East-West trade corridor. APSEZ aims to increase the terminal’s EBITDA from A$228 million in FY25 to A$400 million (about $255 million) within the next four years.

NQXT, located at the Port of Abbot Point, approximately 25 km north of Bowen, operates under a long-term lease from the Queensland Government until 2110. It is a natural deep-water, multi-user export terminal catering to a high-quality customer base in the Bowen and Galilee mining basins, facilitating the export of metallurgical and energy coal to over 15 countries. In FY25, the terminal handled 35 million metric tonnes of cargo, and APSEZ anticipates scaling up its capacity from the current 50 MTPA to 120 MTPA as demand grows.

This expansion aligns with APSEZ’s ambitious goal of achieving 1 billion tonnes per annum in cargo handling capacity by 2030. In FY25, the company handled 450 million tonnes, solidifying its position as India’s largest commercial ports operator, managing nearly a quarter of the nation’s cargo movement. For FY24, APSEZ reported a consolidated revenue of ₹26,711 crore and a net profit of ₹8,104 crore. Following the announcement after market hours on Thursday, APSEZ shares closed 2.2% higher at ₹1,259.90 on the BSE.