In a strategic effort to broaden its global presence, the Adani Group (represented by Adani Ports and Special Economic Zone Ltd. joint venture) has reached an agreement with Hutchison Port Holdings Ltd. to acquire a 95% stake in a container terminal company at the Port of Dar es Salaam in Tanzania. According to an exchange filing, Adani has collaborated with Abu Dhabi-based logistics firm AD Ports Group and East Harbour Terminals Ltd. to acquire Tanzania International Container Terminal Services Ltd. for $39.5 million
This move marks the conglomerate’s first container terminal operation in Africa and adds to its portfolio of international port assets, which includes Haifa in Israel and Colombo in Sri Lanka.
The Adani Group owned by Indian billionaire businessman Gautam Adani, a multinational conglomerate with diversified business interests ranging from energy and resources to logistics and agribusiness, has been eyeing Africa’s potential for growth. The acquisition of the Tanzanian container firm aligns with Adani’s strategy to tap into emerging markets and leverage their growth potential. This move is expected to strengthen trade links between Africa and Asia, facilitating smoother and more efficient trade routes.
Adani Ports has additionally entered into a 30-year concession agreement with the Tanzania Ports Authority to operate and manage the second container facility at the port. This terminal has a cargo handling capacity of one million twenty-foot equivalent units and managed 820,000 TEUs in 2023.
Adani anticipates completing the acquisition by the end of next month, pending approval from the Fair Competition Commission of Tanzania.
Some days ago we reported that another Indian billionaire businessman, Mukesh Ambani, chairman of Reliance Industries, is making a significant entry into the African telecommunications market. His company, through its subsidiary Radisys Corp., has teamed up with Ghana-based Next-Gen InfraCo (NGIC) to introduce 5G broadband services in Ghana.
