Adani Ports to Reacquire Australian Port Terminal in $2.4 Billion Deal

Gautam Adani, the Indian billionaire, is set to transfer ownership of the North Queensland Export Terminal Pty Ltd., an Australian port terminal, to his listed company, Adani Ports & Special Economic Zone Ltd. (APSEZ), in a deal valued at approximately $2.4 billion, Bloomberg reports.

Sources familiar with the matter, who wished to remain anonymous prior to an official announcement, revealed the planned transaction.

APSEZ, India’s largest port operator, will acquire the terminal by issuing preferential shares to an entity controlled by the Adani family. This move underscores the company’s ambition to expand its global presence and dominate key maritime routes where Indian trade is projected to grow.

APSEZ originally acquired the terminal in 2011 before selling it to the Adani family in 2013 for around $2 billion. The sale allowed the firm to concentrate on its burgeoning operations within India.

The reacquisition of the North Queensland Export Terminal represents APSEZ’s fourth international port asset in recent years. The company has already invested in port facilities in Haifa, Israel; Colombo, Sri Lanka; and Dar es Salaam, Tanzania.

An Adani Group representative did not immediately respond to a request for comment. APSEZ had previously announced that its board would convene on Thursday to seek shareholder approval for the issuance of preference shares.

Located within the Port of Abbot Point, approximately 15.5 miles north of Bowen on Queensland’s eastern coast, the deep-water coal terminal boasts a nameplate capacity of 50 million tons per year. The terminal currently exports over 30 million tons of thermal and metallurgical coal annually.

The North Queensland Export Terminal Pty operates under the Bravus banner in Australia and leases the terminal from the Queensland government under a 99-year leasehold agreement.