(APSEZ) has taken a significant step in its global expansion by securing a 30-year concession agreement through its subsidiary, Adani International Ports Holdings Pte Ltd. (AIPH), to operate and manage Container Terminal 2 (CT2) at Dar es Salaam Port in Tanzania. This landmark deal with the Tanzania Ports Authority marks Adani Ports' entry into Tanzania, underscoring its ambition to become one of the largest port operators globally by 2030.
Dar es Salaam Port, a crucial gateway in East Africa, is renowned for its excellent connectivity through roadways and railways. The agreement reflects Adani Ports' strategic vision to expand in high-growth regions. CT2, with its four berths, has an annual cargo handling capacity of 1 million twenty-foot equivalent units (TEUs), positioning it as a key trade hub in the region.
In 2023, CT2 handled 0.82 million TEUs, accounting for 83% of Tanzania's total container volumes, highlighting its importance in regional trade and economic activities. Adani Ports aims to leverage its expertise to boost trade volumes and economic cooperation between its ports and East Africa.
As part of the agreement, the Adani Ports-led consortium, East Africa Gateway Ltd. (EAGL), will acquire the project company in Tanzania for USD 39.5 million. This acquisition includes all port handling equipment and employees, ensuring a smooth transition of operations. APSEZ will be the controlling shareholder, consolidating EAGL on its books.
"The signing of the concession for CT2 at Dar es Salaam Port aligns with our goal of becoming a leading global port operator by 2030. Our expertise in ports and logistics will enhance trade volumes and economic cooperation with East Africa, transforming Dar es Salaam Port into a world-class facility," said Karan Adani, Managing Director of APSEZ.
APSEZ, part of the Adani Group, is India's largest port developer and operator, with multiple strategically located ports and terminals across the country. The company is also developing a transshipment port in Colombo, Sri Lanka, and owns Haifa Port in Israel. Committed to turning carbon neutral by 2025, APSEZ has joined the Science-Based Targets Initiative (SBTi) for emission reduction.
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