According to an exchange filing, promoters approved Adani Ports and Special Economic Zone Ltd.’s acquisition of Abbot Point Port Holdings Pte. Ltd. from Carmichael Rail and Port Singapore Holdings Pte. Ltd. The North Queensland Export Terminal, often known as NQXT, is operated by Abbot Point and has a current capacity of 50 million tonnes annually. The terminal is a vital entry point to Australia’s resource-rich Queensland state.
The issue of 14.38 crore shares to Carmichael Rail on a preferential basis for compensation other than cash has been approved by the promoters. According to a statement released by Adani Ports last month, the deal will expedite the company’s goal of “handling 1 billion tonnes per annum by 2030.”
With its strategic location 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.
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