Adani Ports and SEZ Ltd has announced a non-cash acquisition of a coal export terminal in Australia worth $2.4 billion to strengthen its presence in the Asia-Pacific region. The acquisition of Abbot Point Port Holdings Pte Ltd (APPH) in Singapore was approved by the Board of APSEZ. APPH owns the entities that operate the North Queensland Export Terminal, with a current capacity of 50 million tonnes per annum at the Port of Abbot Point in North Queensland, Australia.
The acquisition of the North Queensland Export Terminal at Abbott Point is a strategic move for APSEZ, as it had previously acquired the terminal in 2011 for $2 billion. In 2013, the Adani family purchased the asset from APSEZ, allowing the company to focus on domestic operations. Now, APSEZ is re-acquiring the terminal as part of its global growth strategy, aiming to double its volumes to 1 billion tonnes per annum by FY30.
This marks the fourth overseas acquisition for APSEZ in the past two years, expanding its portfolio to 19 ports and terminals worldwide. NQXT has a contract for the export of thermal coal from the Adani Carmichael coal mine, further integrating APSEZ’s operations globally. With a focus on the Asian market and strategic partnerships, the acquisition aligns with the company’s growth objectives.
Australia’s Abbot Point has been recognized as a strategic port with a strong presence in the resource industry. The terminal’s strategic location near Asian markets positions it as a key player in global trade dynamics, particularly amid rising tensions in the ports industry. APSEZ’s acquisition of NQXT at a near 17x valuation multiple reflects its commitment to expanding its presence in key markets and strengthening its position as a global port developer.
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