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Adani Ports and Special Economic Zone Limited (APSEZ) has successfully completed the acquisition of 100 per cent interest in NQXT Australia pursuant to completion of all condition precedents, including approvals from 'majority of minority' shareholders, Reserve Bank of India, Foreign Investment Review Board of Australia, amongst others, the Adani Group company said in a release on Tuesday.
APSEZ 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. "Closure of NQXT's acquisition is a significant milestone in APSEZ's growth trajectory towards 1 billion metric tonne cargo by 2030," said Ashwani Gupta, Whole-time Director and CEO, APSEZ. "NQXT is an excellent asset with distinct geographical advantages, strong growth prospects, and an enviable sustainability track record. NQXT will enhance our presence along the East-West trade corridor along with our other international ports in Israel, Colombo and Tanzania. I am delighted to welcome NQXT to the APSEZ family and look forward to strengthening our impact on the global trade landscape." According to APSEZ, NQXT is a high-growth, cash generating asset, driven primarily by take-or-pay contracts with customers. During 2024-25, NQXT had a contracted capacity of 40 million tonnes and delivered A$ 228 million EBITDA (on proforma basis, NQXT represents 6 per cent and 7 per cent of APSEZ's 2024-25 revenue and EBITDA respectively). NQXT is a natural deep-water, multi-user export terminal with a name plate capacity of 50 million tonnes per annum. NQXT is under a long-term lease from the Queensland government and is a critical infrastructure asset supporting Australia's significant resource industry. Located in the Port of Abbot Point in North Queensland, NQXT primarily serves mining customers who are operating in the resource-rich Bowen and Galilee basins and exports largely to fast-growing markets in North and South-East Asia (during 2024-25, c.88 per cent of cargo was shipped to Asian countries). NQXT has a long remaining lease file of 85 years, with its lease set to expire in year 2110. Port of Abbot Point has been declared as a Strategic Port and Priority Port Development Area by the Queensland Government. NQXT has an identified pathway and capability to expand throughput to meet the global demand for Queensland's high-quality resources including potential for green hydrogen exports. APSEZ operates a comprehensive ecosystem of 15 strategically located ports and terminals across India's west, south, and east coasts, combined with a diversified marine fleet of 127 vessels, integrated logistics capabilities including 12 multi-modal logistics parks, 3.1 million sq. ft. of warehouses, and 25,000+ trucks operating on its proprietary platform. (ANI)
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