File photo: Indian billionaire Gautam Adani | Photo credit: Amir Cohen
The billionaire Gautam Adani will transfer the property or an Australian terminal to his company from the list to a business value of approximately $ 2.5 billion, since the largest port operator in India seeks to expand its global footprint.
The Adani Ports & Special Economic Zone Ltd. Board approved on Thursday the acquisition of Abbot Point Port Holdings PTE of Carmichael Rail and Port Singapore Holdings Pte by issuing 143.8 million shares.
Abbot has the entities that possess and operate the export terminal of North Queensland, or NQXT. The agreement will help Adani’s ports reach an annual capacity objective or 1 billion tons by 2030, the company said in a statement.
“The acquisition of NQXT is a fundamental step in our international strategy, opening new export markets and ensuring long -term contracts,” said Ashwani Gupta, executive director of Adani Ports in the statement. “We are pointing to the operational profits that grow to $ 400 million ($ 255 million) in 4 years.”
The announcement confirmed an earlier report Bloomberg News.
Adani Ports in the last two years has been looking to dominate maritime routes where Indian trade is expected. The last purchase would be the fourth international active ports for the Adani group after Haifa in Israel, Colombo in Sri Lanka and the port of Dar Es Salaam in Tanzania.
Located inside the port of Abbot Point, about 25 kilometers (15.5 miles) north of the city of Bowen on the east coast of Queensland, the deep waters coal terminal has an identification plate capacity or 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 creaks the North Queensland Pty export terminal under a lease of 99 years.
North Queensland Export Terminal PTY is part of the Adani group that operates under the Bravus banner in Australia.
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Posted on April 18, 2025