A 30-year concession agreement has been signed by Adani International Ports Holdings Pte Ltd (AIPH), a fully-owned subsidiary of Adani Ports and Special Economic Zone Ltd (APSEZ), with the Tanzania Ports Authority for the operation and management of Container Terminal 2 at the Dar es Salaam Port in Tanzania on Friday.
With a well-established network of railways and roadways, Dar es Salaam Port is a crucial port.
A million TEUs of goods can be handled annually at Container Terminal 2, which has four berths. Adani Ports stated in a press statement that it handled 0.82 million TEUs of containers in 2023, encompassing approximately 83 per cent of Tanzania’s total container volumes.
AIPH, AD Ports Group, and East Harbour Terminals Limited (EHTL) have established a joint venture called East Africa Gateway Limited (EAGL). EAGL will be consolidated on APSEZ’s accounts, and it will be the dominant shareholder.
A share purchase agreement has also been signed by EAGL to acquire a 95% stake in Tanzania International Container Terminal Services Limited (TICTS) from Harbours Investment Limited and Hutchison Port Holdings Limited, along with their affiliate Hutchison Port Investments Limited, for a purchase consideration of $39.5 million.
“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. We are confident that, with our expertise and network in ports and logistics, we will be able to enhance trade volumes and economic cooperation between our ports and East Africa. We will strive to transform Dar es Salaam Port into a world-class port,” APSEZ Managing Director Karan Adani said.
As of right now, TICTS employs manpower and owns all port handling gear. CT2 will be operated by Adani using TICTS.
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