Adani Ports invests USD 39.5M in Dar es Salaam Port expansion
TANZANIA – Adani International Ports Holdings (AIPH), a subsidiary of Adani Ports and Special Economic Zone Ltd. (APSEZ), has made a substantial investment of USD 39.5 million to acquire a 95 percent stake in Tanzania International Container Terminal Services (TICTS).
This strategic investment culminating in a 30-year concession agreement with the Tanzania Ports Authority aims to enhance the operations of Container Terminal 2 (CT2) at Dar es Salaam Port.
By acquiring TICTS, Adani Ports will manage CT2, which plays a crucial role in Tanzania’s logistics and trade infrastructure.
TICTS, which currently owns all port handling equipment and employs the workforce, will be instrumental in ensuring smooth operations under Adani’s management.
Karan Adani, Managing Director of APSEZ, stated, “This investment is a pivotal step in our journey to become one of the largest port operators worldwide. With our expertise in ports and logistics, we are confident in our ability to enhance trade volumes and economic cooperation between East Africa and our ports.”
Dar es Salaam Port, known for its well-connected network of roadways and railways, serves as a gateway port for Tanzania.
CT2, with its four berths, has an annual cargo handling capacity of one million twenty-foot equivalent units (TEUs).
In 2023, the terminal managed 0.82 million TEUs, representing 83 percent of Tanzania’s total container volumes.
The strategic acquisition of TICTS aligns with Adani Ports’ vision of global expansion and operational excellence.
An official release noted, “East Africa Gateway (EAGL) has been incorporated as a joint venture of AIPH, AD Ports Group, and East Harbour Terminals (EHTL). APSEZ will be the controlling shareholder, consolidating EAGL on its books.”
Boosting trade and infrastructure
The investment in TICTS is part of a broader initiative to modernize and improve the efficiency of Dar es Salaam Port.
DP World also recently signed a 30-year agreement to operate and modernize the multipurpose port, committing an initial investment of over USD 250 million.
This modernization effort aims to attract more shipping lines and reduce sea freight costs for Tanzanian importers and exporters.
In addition to port modernization, a new maritime link has been inaugurated as part of Tanzania’s strategic plan to transform Dar es Salaam into a regional maritime and logistics hub.
This new link is expected to facilitate the exchange of goods between the region’s landlocked countries and the rest of the world.
For all the latest fresh produce industry news updates from Africa, the Middle East, and the World, subscribe to our NEWSLETTER, follow us on Twitter and LinkedIn, like us on Facebook, and subscribe to our YouTube channel.
Adani Ports invests USD 39.5M in Dar es Salaam Port expansion
TANZANIA – Adani International Ports Holdings (AIPH), a subsidiary of Adani Ports and Special Economic Zone Ltd. (APSEZ), has made a substantial investment of USD 39.5 million to acquire a 95 percent stake in Tanzania International Container Terminal Services (TICTS).
This strategic investment culminating in a 30-year concession agreement with the Tanzania Ports Authority aims to enhance the operations of Container Terminal 2 (CT2) at Dar es Salaam Port.
By acquiring TICTS, Adani Ports will manage CT2, which plays a crucial role in Tanzania’s logistics and trade infrastructure.
TICTS, which currently owns all port handling equipment and employs the workforce, will be instrumental in ensuring smooth operations under Adani’s management.
Karan Adani, Managing Director of APSEZ, stated, “This investment is a pivotal step in our journey to become one of the largest port operators worldwide. With our expertise in ports and logistics, we are confident in our ability to enhance trade volumes and economic cooperation between East Africa and our ports.”
Dar es Salaam Port, known for its well-connected network of roadways and railways, serves as a gateway port for Tanzania.
CT2, with its four berths, has an annual cargo handling capacity of one million twenty-foot equivalent units (TEUs).
In 2023, the terminal managed 0.82 million TEUs, representing 83 percent of Tanzania’s total container volumes.
The strategic acquisition of TICTS aligns with Adani Ports’ vision of global expansion and operational excellence.
An official release noted, “East Africa Gateway (EAGL) has been incorporated as a joint venture of AIPH, AD Ports Group, and East Harbour Terminals (EHTL). APSEZ will be the controlling shareholder, consolidating EAGL on its books.”
Boosting trade and infrastructure
The investment in TICTS is part of a broader initiative to modernize and improve the efficiency of Dar es Salaam Port.
DP World also recently signed a 30-year agreement to operate and modernize the multipurpose port, committing an initial investment of over USD 250 million.
This modernization effort aims to attract more shipping lines and reduce sea freight costs for Tanzanian importers and exporters.
In addition to port modernization, a new maritime link has been inaugurated as part of Tanzania’s strategic plan to transform Dar es Salaam into a regional maritime and logistics hub.
This new link is expected to facilitate the exchange of goods between the region’s landlocked countries and the rest of the world.
For all the latest fresh produce industry news updates from Africa, the Middle East, and the World, subscribe to our NEWSLETTER, follow us on Twitter and LinkedIn, like us on Facebook, and subscribe to our YouTube channel.