Acquisition opens new export markets, says Gupta
The Board of Directors of Adani Ports and Special Economic Zone Ltd (APSEZ) has approved the acquisition of the North Queensland Export Terminal (NQXT), a dedicated export terminal with a current nameplate capacity of 50 million tonnes per annum (MTPA).
The terminal is located at the Port of Abbot Point, approximately 25 km north of Bowen, in North Queensland on Australia’s east coast https://www.investindia.gov.in/.
The acquisition is from Abbot Point Port Holdings Pte Ltd (APPH), Singapore, from Carmichael Rail and Port Singapore Holdings Pte Ltd, Singapore (CRPSHPL). CRPSHPL is a related party https://www.bseindia.com/.
APPH holds the entities which own and operate NQXT.
The transaction will be completed on a non-cash basis. APSEZ will issue 14.38 crore equity shares to CRPSHPL, in exchange for acquisition of 100% interest in APPH. This is based on enterprise value of NQXT of A$3,975 million. As part of the transaction, APSEZ will also assume other non-core assets and liabilities on APPH’s balance sheet, which APSEZ will realize within a few months of the acquisition (zero net impact on the transaction valuation). APSEZ’s leverage will remain at similar levels post the transaction https://www.asx.com.au/.
Speaking on the acquisition on 18 April, Ashwani Gupta, Whole-time Director & CEO, APSEZ, said, NQXT’s acquisition is a pivotal step in our international strategy, opening new export markets and securing long-term contracts with valued users https://www.nseindia.com/.
“Strategically located on the East-West trade corridor, NQXT is poised for robust growth as a high-performing asset, driven by increased capacity, upcoming contract renewals in the medium term, and the potential for green hydrogen exports in the long term. We are targeting EBITDA growing to A$400 million within 4 years. I am proud to welcome NQXT to our ‘Growth with Goodness’ initiative, as it exemplifies our commitment to high standards in environmental, social, and governance practices.”
NQXT, is a natural deep-water, multi-user export terminal under a long-term lease from the Queensland Government and is a critical infrastructure asset supporting Australia’s significant resource industry. Fiinews.com
