Adani International Ports, a subsidiary of Adani Ports and Special Economic Zone Ltd. (APSEZ), has secured a 30-year concession to operate Container Terminal 2 (CT2) at Dar-es- Salaam Port, marking its entry into Tanzania's port sector. The strategic move underlines APSEZ's commitment to global expansion and leadership in the port and logistics industry. CT2, comprising four berths with an annual cargo handling capacity of 1 million TEUs, is a crucial gateway with extensive road and rail networks. In 2023, it handled 0.82 million TEUs, representing 83% of Tanzania's total container volumes. To facilitate operations, East Africa Gateway Limited (EAGL), a joint venture involving AIPH, AD Ports Group, and East Harbour Terminals Limited (EHTL), has been formed. EAGL, with APSEZ as the controlling shareholder, will consolidate operations under APSEZ's financial statements. Additionally, EAGL has entered into a Share Purchase Agreement to acquire a 95% stake in Tanzania International Container Terminal Services Limited (TICTS) from Hutchison Port Holdings Limited for $39.5 million. TICTS, owning port handling equipment and manpower, will be Adani's operational arm at CT2. Karan Adani, Managing Director, APSEZ, expressed confidence in enhancing trade volumes and economic cooperation between ports and East Africa, aiming to transform Dar-es- Salaam Port into a world-class facility. This strategic move reaffirms APSEZ's commitment to global expansion and leadership in the port and logistics sector. (Source: ET Infra)