Adani Ports Sets Sail for Global Shores with Abbot Point Acquisition

APSEZ, Adani Ports and Special Economic Zone, has pushed its overseas growth by acquiring the North Queensland Export Terminal (NQXT) at Abbot Point in Australia in a $2.54 billion all-cash takeover. The deepwater terminal has a 50 million tonnes-a-year capacity, which is geographically located at a...

APSEZ, Adani Ports and Special Economic Zone, has pushed its overseas growth by acquiring the North Queensland Export Terminal (NQXT) at Abbot Point in Australia in a $2.54 billion all-cash takeover. The deepwater terminal has a 50 million tonnes-a-year capacity, which is geographically located at a strategic site on Australia's east coast, and now has trade with 15 countries and exports 88% of which are headed towards Asia. CEO Ashwani Gupta called the move a “pivotal step” for Adani’s global ambitions, unlocking new export markets and securing long-term contracts. The terminal is also positioned for future green hydrogen exports as part of Adani’s sustainability push. The deal, involving a share swap with Carmichael Rail and Port Singapore Holdings, is expected to boost the port’s EBITDA to A$400 million within four Source: Live Mint, Splash247