Adani Ports

AHMEDABAD: Adani International Ports Holdings Pte Limited (AIPH), a subsidiary of Adani Ports and Special Economic Zone Limited (APSEZ), announced on Friday that it has secured a 30-year concession to operate and manage Container Terminal 2 (CT2) at Dar es Salaam Port in Tanzania. The agreement, signed with the Tanzania Ports Authority, signifies a significant expansion for Adani Ports in East Africa.
In 2023, Dar es Salaam Port handled 0.82 million TEUs of containers, representing 83% of Tanzania’s total container volume.CT2, equipped with four berths, boasts an annual handling capacity of 1 million TEUs.
East Africa Gateway Limited (EAGL), a joint venture involving AIPH, AD Ports Group, and East Harbour Terminals Limited (EHTL), with APSEZ as the controlling shareholder, will acquire a 95% stake in Tanzania International Container Terminal Services Limited (TICTS) from Hutchison Port Holdings Limited and Harbours Investment Limited for $39.5 million. TICTS, the current operator of CT2, will continue managing the port’s equipment and workforce under Adani’s leadership.
Karan Adani, Managing Director of APSEZ, expressed, “The partnership has the potential to enhance trade volumes and economic cooperation between India and East Africa. The concession for Container Terminal 2 aligns with APSEZ’s goal to become a leading global port operator by 2030.”

Republished. Link to Original Article: https://timesofindia.indiatimes.com/business/india-business/adani-ports-bags-30-year-deal-to-operate-container-terminal-at-tanzania-port/articleshow/110601540.cms