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Adani Ports Completes Acquisition of Australia’s North Queensland Export Terminal
Adani Ports (APSEZ) has completed the 100% acquisition of Australia's NQXT. Learn how this deal will strengthen the Adani Group's global trade and 2030 goals.
Adani Portsand Special Economic Zone(APSEZ) has achieved another milestone in its worldwide expansion. It announced on Tuesday that it has completed the acquisition of 100% equity in North Queensland Export Terminal in Australia. It’s not only another milestone in the international expansion of the Adani group but has also given it direct access to Australian strategic resources.
A company based in Ahmedabad, Adani Group, noted that they have fulfilled all the requirements for the purchase, including approval from the majority of minority shareholders and the Reserve Bank of India and the Foreign Investment Review Board of Australia.
Under the agreement, APSEZ has allotted 14,38,20,153 equity shares of face value ₹2 each to the selling firm, Carmichael Rail & Port Singapore Holdings Pte Ltd, on a preferential basis.
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Ashwani Gupta, Whole-Time Director and CEO of APSEZ, described the acquisition as significant for the company. He said, "The acquisition of NQXT is a major step towards our goal of handling 1 billion metric tonnes of cargo by 2030.
Gupta further said that NQXT, along with our other international ports in Israel, Colombo, and Tanzania, will further strengthen our presence on the East-West Trade Corridor.
