Adani signs 30-year deal to manage container terminal-2 at Dar es Salaam Port
May 31, 2024
Ahmedabad (Gujarat) [India], May 31 : Adani International Ports Holdings Pte Ltd. (AIPH) has entered into a 30-year concession agreement with the Tanzania Ports Authority to operate and manage Container Terminal 2 (CT2) at Dar es Salaam Port, Tanzania, the company said in a statement.
AIPH is a wholly owned subsidiary of Adani Ports and Special Economic Zone Ltd (APSEZ).
The 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 per cent of Tanzania's total container volumes.
According to the company, the East Africa Gateway Limited (EAGL) has been formed as a joint venture between AIPH, AD Ports Group, and East Harbour Terminals Limited (EHTL).
APSEZ will be the main shareholder and will consolidate EAGL's financials. EAGL has signed an agreement to acquire a 95 per cent stake in Tanzania International Container Terminal Services Limited (TICTS) from Hutchison Port Holdings and Harbours Investment Limited for USD 39.5 million.
TICTS owns all the port handling equipment and employs the workforce. Adani will manage Container Terminal 2 through TICTS, according to the statement.
"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 Karan Adani, Managing Director, APSEZ.
APSEZ has evolved from a port company to an Integrated Transport Utility providing an end-to-end solution from its port gate to customer gate.
The company claims that 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.
The company said it represents 27 per cent of the country's total port volumes.
