Adani Ports & Special Economic Zone has completed the acquisition of a 100 per cent stake in NQXT Australia. In an exchange filing, the Adani Group company said that it has allotted 14,38,20,153 equity shares of face value Rs 2 each to the seller, Carmichael Rail and Port Singapore Holdings Pte Ltd, on a preferential basis.
Further, Adani Ports and SEZ added that NQXT is a critical export gateway for producers in resource-rich Queensland, with a current capacity of 50 MTPA, and the acquisition adds a cash-generating asset to APSEZ’s international portfolio along the East-West trade corridor.
Ashwani Gupta, CEO of Adani Ports, said that the closure of NQXT’s acquisition is a significant milestone in Adani Ports&SEZ’s growth trajectory towards 1 billion metric tonne cargo by 2030.
“NQXT will enhance our presence along the East-West trade corridor along with our other international ports in Israel, Colombo and Tanzania”, the company CEO added.
NQXT Australia assets
NQXT Australia is located in the Port of Abbot Point in North Queensland, Australia, and primarily serves mining customers operating in the Bowen and Galilee basins, exporting largely to fast-growing markets in North and South-East Asia. The company has a long remaining lease file of 85 years, with its lease set to expire in the year 2110.
In the exchange disclosure, Adani Ports stated that during FY25, NQXT had a contracted capacity of 40 million tonnes and reported an EBITDA of 228 million Australian dollars. The company added that, on a pro forma basis, NQXT represents 6% and 7% of Adani Ports & SEZ’s FY25 revenue and EBITDA, respectively.
Adani Ports & SEZ share price
Adani Ports and SEZ’s stock closed at Rs 1,492.80 on Tuesday, 1.05 per cent down in the intra-day trade. In the last one month, the stock has remained largely flat; however, in the last 6 months and one-year period, it has risen 10.19 per cent and 25.26 per cent, respectively.