Adani Ports signs 30-year pact to operate key terminal at Tanzania’s Dar es Salaam Port

Ahmedabad, May 31 (SocialNews.XYZ) Adani International Ports Holdings on Friday said it has signed a 30-year concession pact with the Tanzania Ports Authority to operate and manage Container Terminal 2 (CT2) at the Dar es Salaam Port in the eastern African country.

Adani International Ports Holdings is a wholly-owned subsidiary of Adani Ports and Special Economic Zone Ltd. (APSEZ).

"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 volumes and economic cooperation between our ports and East Africa. We will strive to transform Dar es Salaam Port into a world-class port," he added.

Dar es Salaam Port is a gateway port with a well-connected network of roadways and railways. According to Adani Ports, East Africa Gateway Ltd (EAGL) has been incorporated as a joint venture of AIPH, AD Ports Group, and East Harbour Terminals Ltd (EHTL). EAGL has signed an agreement for the acquisition of a 95 per cent stake in Tanzania International Container Terminal Services Ltd (TICTS) from Hutchison Port Holdings Ltd (and its affiliate Hutchison Port Investments Ltd) and Harbours Investment Ltd for $39.5 million.

TICTS currently owns all the port handling equipment and employs the manpower and Adani Ports will operate CT2 through TICTS.

Adani Ports is the largest port developer and operator in India with 7 strategically located ports and terminals on the west coast and 8 ports and terminals on the east coast of the country.

Source: IANS