{"id":78946,"date":"2024-06-03T00:00:00","date_gmt":"2024-06-03T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/06\/03\/uaes-east-africa-gateway-snaps-up-95-stake-in-tanzanian-container-terminal\/"},"modified":"2024-06-03T00:00:00","modified_gmt":"2024-06-03T00:00:00","slug":"uaes-east-africa-gateway-snaps-up-95-stake-in-tanzanian-container-terminal","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/06\/03\/uaes-east-africa-gateway-snaps-up-95-stake-in-tanzanian-container-terminal\/","title":{"rendered":"UAE\u2019s East Africa Gateway snaps up 95% stake in Tanzanian container terminal"},"content":{"rendered":"

Adani lands in Tanzanian waters: <\/strong>UAE-based East Africa Gateway (EAGL), a subsidiary of Indian port operator Adani Ports and Special Economic Zone (APSEZ), has signed a share purchase agreement to acquire 95% of Tanzania International Container Terminal Services<\/a> (Ticts) for USD 39.5 mn from Hutchison Port Holdings and Harbors Investments, according to a statement<\/a> released on Friday. The acquisition is part of a 30-year concession agreement between Adani International Ports Holdings and Tanzania Port Authority to manage and operate Container Terminal 2 at Tanzania\u2019s Dar es Salaam Port, the statement notes. <\/p>\n

This marks Adani\u2019s first container terminal in Africa,<\/strong> and the company\u2019s third international port acquisition. Adani purchased Israel\u2019s Haifa Port from the government in a USD 1.15 bn transaction<\/a> last year and snapped up development rights for a terminal currently being built<\/a> at Sri Lanka\u2019s Colombo Port. <\/p>\n

Why is this important?<\/strong> CT2 is located at Dar es Salaam Port, a trade gateway with links to key road and railway networks. CT2 has four berths, with an annual cargo handling capacity of 1 mn TEUs. The terminal managed 0.82 mn container TEUs in 2023, which is estimated to be 83% of Tanzania's total container volumes. <\/p>\n

EAGL has been <\/strong>eyeing<\/strong> Ticts for some time: <\/strong>Tanzania\u2019s Fair Competition Commission (FCC) was reportedly investigating the feasibility<\/a> of this acquisition earlier this year to ensure that it would not harm competition in the sector. <\/p>\n

Adani is already established at the port: <\/strong>The Indian conglomerate runs four container and handling berths at Dar es Salaam under five-year agreements with TICTS, and inked an MoU<\/a> with AD Ports in 2022 to invest in logistics infrastructure in Tanzania \u2014 including maritime services, port operations, rail infrastructure, digital services, and an industrial zone. <\/p>\n","protected":false},"excerpt":{"rendered":"

Adani has also inked a 30-year concession to manage and operate the port\u2019s main container terminal<\/p>\n","protected":false},"author":1,"featured_media":78947,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[941],"tags":[137,37,129],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-78946","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-ma-watch","tag-ports","tag-uae","wpautop","entry"],"acf":{"mongo_id":"2cd830d0-e88c-4a55-a7d1-c693631c4fb2","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/6\/196.jpg","photo_position":"above","homepage_title":"","full_issue_title":"UAE\u2019s East Africa Gateway snaps up 95% stake in Tanzanian container terminal","related_issue":[78941],"teaser":"Adani has also inked a 30-year concession to manage and operate the port\u2019s main container terminal","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.a886bb5a-c0f7-4cd1-9a96-bba982eaca75.mp3"},"yoast_head":"\nUAE\u2019s East Africa Gateway snaps up 95% stake in Tanzanian container terminal - Logistics<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/logistics\/2024\/06\/03\/uaes-east-africa-gateway-snaps-up-95-stake-in-tanzanian-container-terminal\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UAE\u2019s East Africa Gateway snaps up 95% stake in Tanzanian container terminal\" \/>\n<meta property=\"og:description\" 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