Adani Ports and Special Economic Zone on Friday said its wholly owned subsidiary Adani International Ports Holdings Pvt Ltd (AIPH) has signed a 30-year concession agreement with the Tanzania Ports Authority to operate and manage Container Terminal 2 at the Dar es Salaam Port in Tanzania.
The Dar es Salaam Port is a gateway port with a well-connected network of roadways and railways, Adani Ports and Special Economic Zone (APSEZ) said in a statement.
East Africa Gateway Ltd (EAGL) has been incorporated as a joint venture of AIPH, AD Ports Group, and East Harbour Terminals Ltd (EHTL), the statement added.
APSEZ will be the controlling shareholder and will consolidate EAGL on its books, it said.
According to the statement, Container Terminal 2, with four berths, has an annual cargo handling capacity of 1 million twenty-foot equivalent units (TEUs) and managed 0.82 million TEUs of containers in 2023 -- about 83 per cent of Tanzania's total container volumes.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
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