Adani Ports sets foot in Tanzania, signs 30-year agreement for Dar-es-Salaam port
Adani Ports: Dar-es-Salaam in Tanzania is a port that is also connected to a good network of roads and railways. With this agreement, Adani Ports has also set foot in Tanzania.
A concession agreement has been signed by Adani International Ports Holdings Private Limited (AIPH), a wholly owned subsidiary of Adani Ports and Special Economic Zone (APSEZ). It has been reported that AIPH and the Tanzania Ports Authority have a 30-year contract. As per the agreement, AIPH will oversee and run Tanzania's Dar es Salaam Port's Container Terminal-2 for the ensuing thirty years.
A strong network of roads and railroads connects the port of Dar es Salaam. Adani Ports has also stepped foot in Tanzania with this agreement.
APSEZ has said that the Adani Ports-led group will acquire a project company in Tanzania. The company will be acquired for $39.5 million. It is further reported that East Africa Gateway Limited (EAGL) has been incorporated as a joint venture of AIPH, AD Ports Group, and East Harbor Terminals Limited (EHTL). APSEZ will be the main shareholder in this.
According to the statement of APSEZ, EAGL has signed a $39.5 million agreement with Hutchison Port Holdings Limited and Harbors Investment Limited for the acquisition of a 95 percent stake in Tanzania International Container Terminal Services Limited (TICTS). APSEZ Managing Director Karan Adani said that the signing of the agreement for Container Terminal-2 at Dar-es-Salaam port will prove to be very important. He said, 'Now we will be able to increase trade and economic cooperation between our ports and East Africa.'
