Adani Group, India’s largest port infrastructure developer, has entered into a Memorandum of Understanding (MoU) with Abu Dhabi’s AD Ports to jointly explore strategic investment opportunities in Tanzania.
According to a joint statement, the investment framework will cover end-to-end logistics infrastructure and solutions, including rail, maritime services, port operations, digital services, an industrial zone, and the establishment of maritime academies in Tanzania.
“The two companies signed the key agreement setting in motion a series of potential country-level investments to grow, improve, and promote an end-to-end maritime and logistics ecosystem which will make Tanzania a hub for the African region,” the statement said.
Tanzanian had been scouting for Indian investment for its port development programme, particularly for the expansion of Dar es Salaam Port at an estimated cost of US$500 million. Other new port projects are also reportedly under consideration.
Capt. Mohamed Juma Al Shamisi, MD and Group CEO of AD Ports Group, noted, “This MoU with Adani Ports and SEZ Ltd is significant in its impact on both Tanzania’s ability to transform itself into an African trading hub, as well as our ability to further develop our global capabilities and connections that will bring goods to market faster and more efficiently.”
“Our strategic investment in Tanzania in infrastructure and solutions will enable international companies to enter African markets. In line with the direction of the UAE’s leadership, we are positioning Abu Dhabi as a global leader in logistics and industry.”
Karan Adani, CEO of Adani Ports, said, “We are pleased to be partnering with AD Ports Group in the development of key quality infrastructure in Tanzania especially in the ports and maritime sector, which will improve and bring about positive change in the communities, standing by our commitment to growth with goodness.”
Adani added, “We continue to support local employment, as well as general economic growth in Tanzania and East African countries that will benefit from our investments through the collaboration with AD Ports Group.”
Tanzania serves trade to/from six land-locked countries in Africa, such as Malawi, Zambia, the eastern part of DRC [Democratic Republic of Congo], Burundi and Uganda.
The Adani Group, which already has a countrywide port presence in India, has been working aggressively to extend its port network reach to new global markets as it aims to emerge as the world’s largest port operator by 2030.
Jenny Daniel
India correspondent
Contact email: j.daniel@container-news.com
