Adani International Ports Holdings (AIPH), a wholly owned subsidiary of Adani Ports and Special Economic Zone (APSEZ), has signed a 30-year concession agreement with the Tanzania Ports Authority to operate and manage Container Terminal 2 at the Port of Dar es Salaam, Tanzania.
The Port of Dar es Salaam is a gateway port with a well-developed road and rail network.
CT2 has four berths with an annual cargo handling capacity of 1 million TEUs and is expected to handle 820,000 TEUs of containers in 2023, accounting for 83% of Tanzania's container traffic.
In addition, East Africa Gateway Limited (EAGL) is a joint venture between AIPH, AD Ports Group and East Harbour Terminals Limited. APSEZ will become the controlling shareholder and bring EAGL into its books.
EAGL has signed a share purchase agreement to acquire 95% of the shares of Tanzania International Container Terminal Services Limited from Hutchison Port Holdings Limited (and its subsidiary Hutchison Port Investments Limited) and Port Investments Limited for US$39.5 million. TICTS currently owns the port's handling equipment and personnel. Adani will operate CT2 through TICTS.
"The signing of the concession for Container Terminal 2 at the Port of Dar es Salaam is in line with APSEZ's ambition to become one of the largest port operators in the world by 2030. We are confident that with our expertise and network in ports and logistics, we will be able to increase trade volumes and economic cooperation between our port and East Africa. We will work towards transforming the Port of Dar es Salaam into a world-class port," commented Karan Adani, Managing Director of APSEZ.
