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Adani to Operate Container Port in Tanzania

Scooper Man 128 Comments

Adani International Ports Holdings Pte.—a wholly owned subsidiary of Adani Ports and Special Economic Zone Ltd.—has signed a 30-year concession agreement with the Tanzania Ports Authority.

The 30-year agreement includes operating and managing container Terminal 2 at the Dar es Salaam Port, Tanzania, according to the exchange filing on Friday.

Adani International Ports Holding, AD Ports Group and East Harbour Terminals have incorporated a joint venture called East Africa Gateway with Adani Ports and Special Economic Zone Ltd being the majority shareholder.

East Africa Gateway has signed a share purchase agreement for the acquisition of a 95% stake in Tanzania International Container Terminal Services Ltd. from Hutchison Port Holdings Ltd. and Harbours Investment Ltd. for a deal value of $39.5 million. Adani will operate CT2 through TICTS, the filing said.

“The signing of the concession for Container Terminal 2 at Dar es Salaam Port is in line with APSEZ’s ambition to become one of the largest port operators globally by 2030″ was quoted from the Managing Direcctor, Karan Adani.

“We are confident that with our expertise and network in ports and logistics, we will be able to enhance trade volume and economic cooperation between our ports and East Africa. We will strive to transform Dar Es Salaam port into a world class port.

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Scooper Man

I came. I saw. I scooped. The original East African Super Hero - Scooperman came to Saayaraha to save everyone from the pain of boring news. Scooperman curates a personalise news feed for users of Saayaraha, focussing on only the things that matter to east Africans.

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