AHMEDABAD, India & ABU DHABI, United Arab Emirates - Saturday, 01. June 2024
Editor’s Synopsis
Concession marks entry of Adani Ports into Tanzania
CT2 has a capacity of 1 million TEUs and handles ~83% of Tanzania’s container volume
Dar es Salaam Port is a gateway port with a well-connected network of roadways and railways
Adani Ports led consortium will acquire the project company in Tanzania, which houses all port handling equipment and employees, for an amount of USD 39.5 million
(BUSINESS WIRE)--Adani International Ports Holdings Pte Ltd. (AIPH), a wholly owned subsidiary of Adani Ports and Special Economic Zone Ltd. (APSEZ), has signed a 30-year concession agreement with the Tanzania Ports Authority to operate and manage Container Terminal 2 at the Dar es Salaam Port, Tanzania. Dar es Salaam Port is a gateway port with a well-connected network of roadways and railways.
CT2, with four berths, has an annual cargo handling capacity of 1 million TEUs and managed 0.82 million TEUs of containers in 2023, estimated to be 83% of Tanzania’s total container volumes. East Africa Gateway Limited (EAGL) has been incorporated as a joint venture of AIPH, AD Ports Group and East Harbour Terminals Limited (EHTL). APSEZ will be the controlling shareholder and will consolidate EAGL on its books.
EAGL has signed a Share Purchase Agreement for the acquisition of 95% stake in Tanzania International Container Terminal Services Limited (TICTS) from Hutchison Port Holdings Limited (and its affiliate Hutchison Port Investments Limited) and Harbours Investment Limited for a purchase consideration of USD 39.5 million. TICTS currently owns all the port handling equipment and employs the manpower. Adani will operate CT2 through TICTS.
“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,” said Mr. Karan Adani, Managing Director, APSEZ.
About Adani Ports and Special Economic Zone Ltd.
Adani Ports and Special Economic Zone Ltd. (APSEZ), a part of the globally diversified Adani Group, has evolved from a port company to an Integrated Transport Utility providing an end-to-end solution from its port gate to customer gate. It is the largest port developer and operator in India with 7 strategically located ports and terminals on the west coast (Mundra, Tuna, Dahej, and Hazira in Gujarat, Mormugao in Goa, Dighi in Maharashtra and Vizhinjam in Kerala) and 8 ports and terminals on the East coast of India (Haldia in West Bengal, Dhamra and Gopalpur in Odisha, Gangavaram and Krishnapatnam in Andhra Pradesh, Kattupalli and Ennore in Tamil Nadu and Karaikal in Puducherry), representing 27% of the country's total port volumes, thus providing capabilities to handle vast amounts of cargo from both coastal areas and the hinterland. The company is also developing a transshipment port at Colombo, Sri Lanka, and owns the Haifa Port in Israel.
Our Ports to Logistics Platform comprising port facilities, integrated logistics capabilities including multimodal logistics parks, Grade A warehouses, and industrial economic zones, puts us in an advantageous position as India stands to benefit from an impending overhaul in global supply chains. Our vision is to be the largest ports and logistics platform in the world in the next decade. With a vision to turn carbon neutral by 2025, APSEZ was the first Indian port and third in the world to sign up for the Science-Based Targets Initiative (SBTi) committing to emission reduction targets to control global warming at 1.5°C above pre-industrial levels.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240531019622/en/
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Contacts
For media information, please contact: roy.paul@adani.com