CT2, with four berths, has an annual cargo handling capacity of 1 million TEUs and managed 0.82 million TEUs of containers in 2023, estimated to be 83 per cent of Tanzania’s total container volumes. East Africa Gateway Limited (EAGL) has been incorporated as a joint venture of AIPH, AD Ports Group and East Harbour Terminals Limited (EHTL). APSEZ will be the controlling shareholder and will consolidate EAGL on its books, the company said in a press release.

EAGL has signed a share purchase agreement for the acquisition of 95 per cent stake in Tanzania International Container Terminal Services Limited (TICTS) from Hutchison Port Holdings Limited (and its affiliate Hutchison Port Investments Limited) and Harbours Investment Limited for a purchase consideration of $39.5 million. TICTS currently owns all the port handling equipment and employs the manpower. Adani will operate CT2 through TICTS.

“The signing of the concession for container terminal 2 at Dar es Salaam Port is in line with APSEZ’s ambition of becoming one of the largest port operators globally by 2030. We are confident that with our expertise and network in ports and logistics, we will be able to enhance trade volumes and economic cooperation between our ports and East Africa. We will strive to transform Dar es Salaam Port into a world class port,” said Karan Adani, managing director, APSEZ.

Fibre2Fashion News Desk (RR)