Adani Ports and Special Economic Zone Ltd. (APSEZ) has entered into a joint venture with Hutchison Port Holdings Ltd. to acquire a 95% stake in a container terminal company located at the Port of Dar es Salaam in Tanzania.
The deal, valued at $39.5 million, marks the conglomerate’s first container terminal operation in the African continent.
The acquisition was materialised in partnership with Abu Dhabi-based logistics company AD Ports Group and East Harbour Terminals Ltd.
Together, they have acquired Tanzania International Container Terminal Services Ltd., as revealed in an exchange filing by the Ahmadabad, India-based Adani Ports.
The acquisition extends Adani Ports’ international footprint, adding to its existing global assets which include port facilities in Haifa, Israel, and Colombo, Sri Lanka.
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30-year Concession Agreement
The Dar es Salaam terminal will boost Adani Ports’ capacity and presence in the African region.
Besides, Adani Ports has also entered into a 30-year concession agreement with the Tanzania Ports Authority to operate and manage the second container facility at the port.
The terminal has a cargo handling capacity of one million twenty-foot equivalent units (TEUs) and handled 820,000 TEUs in 2023.
This move is anticipated to enhance operational efficiencies and elevate the standard of port services in Tanzania, contributing to the overall economic growth of the region.
