Dubai: The AD Ports Group has entered a partnership with India's Adani International Port Holding and East Harbour Terminals Ltd. to set up East Africa Gateway Ltd. based in Abu Dhabi's Kezad zone.
Adani International Port Holding is a wholly-owned subsidiary of Adani Ports and Special Economic Zone Ltd.
Through this venture, in which AD Ports Group owns 30 per cent, the three have acquired 95 per cent of Tanzania International Container Terminal Services from Hutchison Port Holdings, Hutchison Port Investments and Harbours Investment, for $39.5 million.
The deal is expected to be completed by end of June.
Our partnership with Adani Ports and East Harbour Terminals Limited, is the beginning of a wider collaboration in Tanzania
TICTS owns all the port handling equipment and employs the manpower at Container Terminal 2 at Dar es Salaam Port, and it will operate the terminal.
The port’s Terminal 2, which has an annual container capacity of 1 million TEUs, handled around 0.82 million TEUs in 2023, representing 83 per cent of Tanzania’s total container volumes.
Adani International Port Holding is part of Indian billionaire Gautam Adani's highly diversified business empire. The group had been actively pursuing new markets, with Africa seen as a major new entry point. Through the new deal with AD Ports Group, Adani has done just that.
"Through such strategic partnerships, we aim to leverage our combined know-how and expertise to develop infrastructure in Tanzania, support its economic growth and increase its competitiveness globally," said Capt. Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group.
The UAE company already has a steadily growing exposure in Africa, through ports and container terminal management contracts.
