Adani International Ports Holdings (AIPH), a fully owned subsidiary of Adani Ports and Special Economic Zone (APSEZ), has inked a 30-year concession deal with Tanzania Ports Authority to operate and manage Container Terminal 2 at Dar es Salaam Port in Tanzania.
Dar es Salaam Port is a gateway port with a well-developed network of roadways and railways.
CT2, with four berths, has an annual cargo handling capacity of 1 million TEUs and is expected to handle 0.82 million TEUs of containers in 2023, accounting for 83% of Tanzania’s total container traffic.
Moreover, East Africa Gateway Limited (EAGL) was formed as a joint venture between AIPH, AD Ports Group, and East Harbour Terminals Limited. APSEZ will be the controlling shareholder, consolidating EAGL on its books.
EAGL has signed a Share Purchase Agreement to acquire a 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 US$39.5 million. TICTS presently owns the port handling equipment and hires the personnel. Adani will run CT2 via 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,” commented Karan Adani, managing director, APSEZ.
