Adani Ports Signs 30-Year Concession To Operate Container Terminal In Tanzania
The agreement includes operating and managing container Terminal 2 at the Dar es Salaam Port, Tanzania.
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 Ltd. have incorporated East Africa Gateway Ltd. as a joint venture and APSEZ will be the controlling shareholder and also consolidate EAGL on its books, it said.
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 of becoming one of the largest port operators globally by 2030," said Karan Adani, managing director, APSEZ.
"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,” he said.
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