Adani Bags 30-Year Deal To Manage Container Terminal At Dar es Salaam Port

Adani International Ports Holdings Pte Ltd. (AIPH), a subsidiary of Adani Ports and Special Economic Zone Ltd (APSEZ), 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. CT2 features four berths and has an annual cargo handling capacity of 1 million TEUs, handling 0.82 million TEUs in 2023, which accounts for 83% of Tanzania's total container volumes.

To facilitate this operation, AIPH has formed a joint venture called East Africa Gateway Limited (EAGL) with AD Ports Group and East Harbour Terminals Limited (EHTL). APSEZ will be the main shareholder and consolidate EAGL's financials. EAGL has acquired a 95% 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, through which Adani will manage CT2.

Karan Adani, Managing Director of APSEZ, expressed confidence in enhancing trade volumes and economic cooperation between East Africa and their ports, aiming to transform Dar es Salaam Port into a world-class facility. This expansion is part of APSEZ's ambition to become one of the largest global port operators by 2030.

APSEZ is the largest port developer and operator in India, with 7 ports and terminals on the west coast and 8 on the east coast, handling 27% of India's total port volumes. The company's network provides end-to-end transport solutions from port gates to customer gates.

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