APSEZ expands green H2 exports

The company will take over Abbot Point Port Holdings (APPH) from Carmichael Rail and Port Singapore Holdings through a non-cash deal, issuing 14.38 crore equity shares in exchange for 100% ownership.

APPH owns and operates the North Queensland Export Terminal (NQXT), a deep-water, multi-user facility with a capacity of 50 million tonnes per annum.

“NQXT’s acquisition is a pivotal step in our international strategy, opening new export markets and securing long-term contracts with valued users,” said Ashwani Gupta, whole-time director & chief executive, APSEZ.

“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.”

The acquisition positions APSEZ to capitalise on the Queensland Government’s push to make the region a hub for green hydrogen exports, with the Port of Abbot Point identified as a key strategic site.

NQXT is currently under a long-term lease from the Queensland Government and services eight major mining customers under ‘take or pay’ contracts. In FY25, it achieved record cargo volumes of 35MMT and generated A$349 million in revenue with a 90% EBITDA margin for APSEZ.

The acquisition, based on an enterprise value of A$3.975 billion, aligns with Adani’s global logistics expansion and marks a significant step toward integrating future green energy exports with its growing global infrastructure portfolio.