FILE PHOTO: Indian billionaire Gautam Adani
| Photo Credit:
Amir Cohen
Billionaire Gautam Adani will transfer ownership of an Australian terminal to his listed company at an enterprise value of about $2.5 billion as India’s largest port operator seeks to expand its global footprint.
The board of Adani Ports & Special Economic Zone Ltd. on Thursday approved the acquisition of Abbot Point Port Holdings Pte from Carmichael Rail and Port Singapore Holdings Pte by issuing 143.8 million shares.
Abbot holds the entities which own and operate the North Queensland Export Terminal, or NQXT. The deal will help Adani Ports achieve an annual capacity target of 1 billion tons by 2030, the company said in a statement.
“NQXT’s acquisition is a pivotal step in our international strategy, opening new export markets and securing long term contracts,” Ashwani Gupta, chief executive officer at Adani Ports said in the statement. “We are targeting operating profit growing to A$400 million ($255 million) in 4 years.”
The announcement confirmed an earlier report by Bloomberg News.
Adani Ports over the last two years has been seeking to dominate maritime routes where Indian trade is expected to increase. The latest purchase would be the fourth international port asset for the Adani group after Haifa in Israel, Colombo in Sri Lanka and the Port of Dar es Salaam in Tanzania.
Situated within the Port of Abbot Point, about 25 kilometers (15.5 miles) north of the town of Bowen on Queensland’s east coast, the deep-water coal terminal has a nameplate capacity of 50 million tons per year. More than 30 million tons of thermal and metallurgical coal are exported annually through the terminal, which is owned by the Queensland government and leased by North Queensland Export Terminal Pty under a 99-year leasehold.
North Queensland Export Terminal Pty is part of the Adani Group operating under the Bravus banner in Australia.
More stories like this are available on bloomberg.com
©2025 Bloomberg L.P.
Published on April 18, 2025
FILE PHOTO: Indian billionaire Gautam Adani
| Photo Credit:
Amir Cohen
Billionaire Gautam Adani will transfer ownership of an Australian terminal to his listed company at an enterprise value of about $2.5 billion as India’s largest port operator seeks to expand its global footprint.
The board of Adani Ports & Special Economic Zone Ltd. on Thursday approved the acquisition of Abbot Point Port Holdings Pte from Carmichael Rail and Port Singapore Holdings Pte by issuing 143.8 million shares.
Abbot holds the entities which own and operate the North Queensland Export Terminal, or NQXT. The deal will help Adani Ports achieve an annual capacity target of 1 billion tons by 2030, the company said in a statement.
“NQXT’s acquisition is a pivotal step in our international strategy, opening new export markets and securing long term contracts,” Ashwani Gupta, chief executive officer at Adani Ports said in the statement. “We are targeting operating profit growing to A$400 million ($255 million) in 4 years.”
The announcement confirmed an earlier report by Bloomberg News.
Adani Ports over the last two years has been seeking to dominate maritime routes where Indian trade is expected to increase. The latest purchase would be the fourth international port asset for the Adani group after Haifa in Israel, Colombo in Sri Lanka and the Port of Dar es Salaam in Tanzania.
Situated within the Port of Abbot Point, about 25 kilometers (15.5 miles) north of the town of Bowen on Queensland’s east coast, the deep-water coal terminal has a nameplate capacity of 50 million tons per year. More than 30 million tons of thermal and metallurgical coal are exported annually through the terminal, which is owned by the Queensland government and leased by North Queensland Export Terminal Pty under a 99-year leasehold.
North Queensland Export Terminal Pty is part of the Adani Group operating under the Bravus banner in Australia.
More stories like this are available on bloomberg.com
©2025 Bloomberg L.P.
Published on April 18, 2025
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It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout. The point of using Lorem Ipsum is that it has a more-or-less normal distribution
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