Adani International Ports Holdings, a wholly owned subsidiary of India's Adani Ports and Special Economic Zone (APSEZ), has entered into a 30-year concession agreement with the Tanzania Ports Authority (TPA) to operate and manage Container Terminal 2 at the Dar es Salaam Port in Tanzania.
APSEZ said Dar es Salaam Port serves as a gateway port with a well-connected network of roadways and railways. Container Terminal 2, which has four berths, has an annual cargo handling capacity of one million TEUs and managed approximately 820,000 TEUs in 2023, estimated to be 83 per cent of Tanzania's total container volumes.
East Africa Gateway (EAGL) has been incorporated as a joint venture of AIPH, UAE port operator the AD Ports Group, and East Harbour Terminals (EHTL). APSEZ will be the controlling shareholder and will consolidate EAGL on its books.
EAGL has entered into a share purchase agreement for the acquisition of a 95 per cent stake in Tanzania International Container Terminal Services Limited (TICTS) from Hutchison Port Holdings (and its affiliate Hutchison Port Investments) and Harbours Investment for a purchase consideration of US$39.5 million.
TICTS currently owns all the port handling equipment and employs the manpower. Adani will operate CT2 through TICTS.